This paper advocates agribusiness-led development based on increased public support for small-scale, locally-led institutional innovations and private sector investment that foster business between local farmers and buyers. In particular this publication looks at easing the cost and risk of doing business with smallholders for SMAEs; supporting smallholder competitive advantage for agribusiness-led development; smallholder organizational models for improved bargaining power and value-chain governance; institutional innovations and strategic value addition for sustained value capture; and success factors and policy guidance for strengthening smallholder-buyer business models within value chains.