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Community Economic Development and Finance > Microenterprise Development/Support
Microenterprise Development/Support
Programs that provide technical assistance, training in business skills, assistance in writing business plans, access to venture capital or loans, loan guarantees or other forms of support for individuals who want to establish or expand the operation of very small businesses known as microenterprises or microbusinesses. A microenterprise is a business, which may be located in an urban, suburban or rural setting, with five or fewer employees and capital needs of less than $25,000. Many start as home or yard-based businesses, have part-time operations, and may be created by nontraditional entrepreneurs such as women, minorities, low-income individuals, and dislocated or underemployed workers. Most provide an opportunity for low-income households to become more self-sufficient.