Impact Bridges Group has been commissioned by Global Affairs Canada to write a paper outlining the process of conducting an investment appraisal for small and growing businesses in low and medium-income countries. This collaboration highlights the importance of supporting entrepreneurship and sustainable economic development in emerging markets. The paper aims to provide valuable insights and guidelines for investors and stakeholders interested in helping small businesses in these regions. By leveraging its impact investing and business development expertise, Impact Bridges Group is poised to deliver a comprehensive and insightful analysis that can help drive investment decisions and foster economic growth in underserved communities. This initiative underscores the commitment to promoting inclusive and sustainable economic development globally.