Oxfam’s Future of Business Initiative: Promoting equitable businesses and fourth sector development
Since the turn of the century, the poorest half of the world’s population has received just 1% of the total increase in global wealth. Meanwhile, half the new wealth has gone to the richest 1%. At present, mainstream business is driving, rather than reversing, this disturbing trend. To help reverse this trend, we need rapid growth of equitable business structures with purpose, fairness and sustainability embedded into their model. In efforts to promote such equitable business structures, and the fourth sector, Oxfam is launching the Future of Business Initiative. Through this initiative, Oxfam will help such enterprises access finance and work with global companies on how they can include them in their supply chains. Oxfam will also investigate how having more businesses structured more equitably can contribute towards tackling global inequality, and ways government policies can better foster them, and the broader fourth sector.