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As financial service providers (FSPs) have increasingly targeted smallholder farmers as potential customers, there is a growing need for FSPs to access unique tools and develop new skills to reach this customer segment. To help address this need, an ecosystem of ‘Business Development Services (BDS) providers has developed, at both local and international levels. BDS includes a range of external advisory services that provide or develop the capabilities needed to design, deliver, and support FSPs’ products and operations. This includes a wide range of offerings, such as strategic planning, inclusive business design, data and digitalization, and monitoring and evaluation (M&E).

To better understand the experiences and perspectives of FSPs who utilize these BDS providers, ISF Advisors surveyed 47 organizations from around the world, predominantly MFIs, commercial banks, NGOs, and social lenders. The respondents were high-level decision makers, over half from the c-suite level, with broad knowledge of and authority over the decision to hire external BDS services. Our online survey collected a range of data on both the organizations’ individual experiences with BDS providers, as well as their assessment of the availability, quality, and affordability of different categories of BDS.

The following highlights from the survey are offered in the hope that all market participants—FSPs, BDS providers, and donors—can better...