Poverty alleviation, social disruption, environmental degradation and climate change are the most urgent sustainability challenges humanity confronts today. Inclusive Business can play a crucial role in dealing with the above unexpected sustainable challenges, especially in eliminating poverty with commercially viable activities, which include technologies, innovation capacity, resources, and skills to improve the lives of the poor. Inclusive Business, therefore, combines the skills necessary for a successful commercial business with systems and practices for assessing, monitoring and reporting on impacts of the companies on the poor. Companies around the world are already providing a wide variety of innovative solutions to solve critical environmental and social challenges, while benefit from doing so. However, all these valuable initiatives are far from putting us on a genuinely sustainable track. Impact assessment tools for Inclusive Business are useful for assessing, measuring and reporting environmental and social impacts of a company. This paper focuses on the assessment of 4 impact assessment tools for Inclusive Business by applying the FSSD to determine their functionality and purpose, as well as their contribution to sustainable strategic development. The evaluation presents the strengths and weaknesses of the impact assessment tools from an SSD perspective. The research finds that from the SSD perspective the given tools fail in having a full compliance towards a sustainable strategic development. Even though, the primary aim of the tool is to address social and environmental impacts in a holistic approach.