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Press Release |
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National Microenterprise Day October 22 |
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| AEO and MPBDP 10/17/2008 - The Middle Peninsula Business Development Partnership, a six-county, regional entrepreneur support organization, and the Association for Enterprise Opportunity (AEO), the national leadership organization and voice of the U.S. microenterprise movement, urge both Presidential candidates, legislators and the American business community in general, to consider microenterprise development as a proven job creation solution for our troubled economy.
“Our nation’s smallest businesses are a major source of U.S. employment, and an overlooked solution in the discussion of repairing our nation’s struggling economy,” said Amy McKenna Luz, AEO president and CEO, in a statement made earlier this week.
“We realize that unemployment is only one of several negative factors impacting our ailing economy, but it is a significant one -- and one that is discussed daily around kitchen tables nationwide. Investing in microenterprises is a proven way to create thousands of new jobs and should be part of any economic solution put forth. Even during times of high unemployment, microenterprises continue to create jobs, but they need capital to grow and survive through this economic crisis.”
Businesses with five or fewer employees added an average of 900,000 new jobs per year from 2000 to 2005, despite employment trends veering downwards in other sectors during that same period. The funding of more microenterprises, a relatively small investment, can directly result in job creation. AEO estimates there are more than 7,643 microenterprises currently operating in the six counties of the Middle Peninsula, which represent 89% of all businesses and 19% of all private employment. Nationwide there are 24 million microenterprises representing 87% of all businesses 18% of all private employment.
Organizations like MPBDP provide the framework to invest in microenterprises. Since 2000 we have supported over 1200 businesses by providing training, technical assistance and access to financing. “Now more than ever, we need to focus on the needs of our microenterprise businesses, since they provide the backbone of our local economy,” said Candie Newman, Director of MPBDP.
About AEO:
The Association for Enterprise Opportunity (AEO) is the national leadership organization and the voice of the U.S. microenterprise movement. Its members include non-profit organizations who provide services that include lending, training, technical assistance and mentoring to current and aspiring entrepreneurs often in underserved populations such as, immigrants, women heads of households, Native Americans and others. For nearly 20 years, AEO and its members have helped more than two million such entrepreneurs support themselves and their families, and contribute to their communities through business ownership. To learn more, visit
www.microenterpriseworks.org
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