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funding platforms, such as crowdfunding and microfinance, are gaining traction for seed and early-stage companies, but require regulatory support to achieve scale. The global microfinance market has the potential to help small enterprises become tax-paying members of the formal economy.15In many countries, credit guarantee schemes (CGSs) are used by banks, often with public sector support, to ease the constraints SMEs face in accessing finance. Government start-up programs have become one of the most valuable sources of help. Public money is a powerful catalyst, particularly when delivered in partnership with private sector funds. Corporate venturing also continues to grow, with almost 1,000 units worldwide —and becoming more widespread in rapid-growth markets.1621Megatrends 2015Making sense of a world in motion
22Megatrends 2015Making sense of a world in motion
3Global marketplace Faster growth rates and favorable demographics in key rapid-growth markets will continue to be a feature of the next decade or so. The gulf between mature and rapid-growth countries continues to shrink. A new tier of emerging nations, driven by their own nascent middle classes, will draw global attention. Innovation will increasingly take place in rapid-growth markets, with Asia surfacing as a major hub. In the global marketplace, the war for talent will become increasingly fierce, necessitating greater workforce diversity to secure competitive advantage. The economies of the world will remain highly interdependent through trade, investment and financial system linkages, driving the need for stronger global policy coordination among nations and resilient supply chains for companies operating in this environment. At the same time, domestic interests will continue to clash and compete with the forces of global integration. Pushback and opposition to global integration manifests itself in various economic, political and cultural forms, including trade and currency protectionism, the imposition of sanctions to achieve political aims, anti-globalization protests, as well as the strengthening of nationalistic, religious and ethnic movements around the world. 23Megatrends 2015Making sense of a world in motion
Economic power continues to shift east and south, driving new patterns of trade and investmentGrowth in rapid-growth markets is expected to taper somewhat going forward, but should nevertheless remain very healthy. For 2014-2030, projected growth rates for major players such as China (+5.9%), and India (+6.7%), as well as fast-developing regions such as Sub-Saharan Africa (+5.8) and the Middle East and North Africa (MENA) (+4.9%) will continue tipping the world’s center of economic gravity toward the east and south.1With growing economies, and supported by socioeconomic trends such as urban migration, declining dependency ratios, favorable demographics and growing income levels, rapid-growth markets will become increasingly important venues for conducting global business. For all companies with global ambitions —both