Thank you Peter and Deonta for writing this insightful article. Supporting micro-businesses is a global issue, and there hasn’t been a push in technology to support these businesses beyond fintech payment processing. The vast majority of micro-businesses I have interacted with work in cash only. We have been working on creating an open source mobile application for micro-businesses to track their inventory and sales and see simple profit-loss statements, and are launching into the Google Playstore soon. I would love to connect to learn more about these initiatives to support micro-businesses and find partners. ENVision mobile: http://www.envisionmobile.co
You are absolutely ‘on point’. Microbusinesses fill a need that is especially important for small and disadvantaged communities. Our experience is that many of microbusinesses we serve are in the product and service industries andare built by people who monetize their talent and skills. In our local community, microbusinesses are not seen to be as ‘sexy’ as the tech start-ups for a number of reasons. The value microbusinesses contribute to economic development and job creation can easily be overlooked. I appreciate that you have put your time and substantial talent into shedding light on this sector as having both social and economic impact. As a child of a divorced mother with a high school education, there would have been no way for her to employ others, be a homeowner, contribute to her retirement needs, provide my sister and me with a good life and send us to college without her owning a microbusiness. I am living proof of their value to the local community and the local economy. Thank you!
Peter & Deonta- Thanks of an excellent reminder of the importance of micro businesses. Many mirobusiness entrepreneurs take advantage of local knowledge to identify needed products and services. This makes them ideal for filling gaps in commercially underserved communities, while creating jobs in the process. Often, however, success rates are not high.
While funding is critical, support programs for small-scale entrepreneurs that provide technical training in finance, retail operations, and marketing could improve success rates and yield long-term benefits for underserved communities.
As your article makes clear that vibrant, successful microbusinesses provide multiple benefits. Private/public/nonprofit partnerships to support them can be cost-effective means of improving community health.
Timely Article.
We at eKutir Social Business have been focussing on Micro enterprises in an emergent economy specially in the space of Agriculture,Housing ,Energy and Sanitation.We have got a MEA ( Micro Enterprise Accelerator Programme and coming our with innovative approach to address to the needs of the MEs and graduate them from a subsistence enterprise to Commercial enterprise.
Please visit http://www.ekutirsb.com
Micro businesses such as small size businesses and also and Medium size business are one of the best methods to elevate people from poverty and supports socially and economically to them.
Large Business Models – multi-million dollar investment business – most of time fully relied on automation which will meets demand on the supply side but not fully and long sustain time for support the social and economical to the nation’s poor people and never eliminate unemployment well so far as along as some visionary leaders will be immerged in the world for betterment of global people.
Here at Creative Startups we are supporting the launch of Creative Industries businesses in our accelerator. Surprise to us the diversity of entrepreneurs in the Creative Industries. We discovered that close to 70% are either women or minorities or both. Hispanic, Native American, African-American. While some scale and create many jobs, most are micro-businesses. We find that internationally as well. This article is exciting breakthrough opening eyes to the value of micro-businesses. We treat all startups equally. Etkie has 7 Navajo women weaving high end gold bracelet; Native Realities created the first Indigenous Comic Con and Mixtros is an innovative company owned by a mother-daughter team who are African Americans. The Creative Industries are exciting.
COMMENTS
BY Aneri Pradhan
ON January 16, 2018 10:38 PM
Thank you Peter and Deonta for writing this insightful article. Supporting micro-businesses is a global issue, and there hasn’t been a push in technology to support these businesses beyond fintech payment processing. The vast majority of micro-businesses I have interacted with work in cash only. We have been working on creating an open source mobile application for micro-businesses to track their inventory and sales and see simple profit-loss statements, and are launching into the Google Playstore soon. I would love to connect to learn more about these initiatives to support micro-businesses and find partners. ENVision mobile: http://www.envisionmobile.co
BY Gabrielle Wanamaker
ON January 17, 2018 09:45 AM
You are absolutely ‘on point’. Microbusinesses fill a need that is especially important for small and disadvantaged communities. Our experience is that many of microbusinesses we serve are in the product and service industries andare built by people who monetize their talent and skills. In our local community, microbusinesses are not seen to be as ‘sexy’ as the tech start-ups for a number of reasons. The value microbusinesses contribute to economic development and job creation can easily be overlooked. I appreciate that you have put your time and substantial talent into shedding light on this sector as having both social and economic impact. As a child of a divorced mother with a high school education, there would have been no way for her to employ others, be a homeowner, contribute to her retirement needs, provide my sister and me with a good life and send us to college without her owning a microbusiness. I am living proof of their value to the local community and the local economy. Thank you!
BY Lance Potter
ON January 17, 2018 01:50 PM
Peter & Deonta- Thanks of an excellent reminder of the importance of micro businesses. Many mirobusiness entrepreneurs take advantage of local knowledge to identify needed products and services. This makes them ideal for filling gaps in commercially underserved communities, while creating jobs in the process. Often, however, success rates are not high.
While funding is critical, support programs for small-scale entrepreneurs that provide technical training in finance, retail operations, and marketing could improve success rates and yield long-term benefits for underserved communities.
As your article makes clear that vibrant, successful microbusinesses provide multiple benefits. Private/public/nonprofit partnerships to support them can be cost-effective means of improving community health.
BY KCMishra
ON January 18, 2018 05:47 PM
Timely Article.
We at eKutir Social Business have been focussing on Micro enterprises in an emergent economy specially in the space of Agriculture,Housing ,Energy and Sanitation.We have got a MEA ( Micro Enterprise Accelerator Programme and coming our with innovative approach to address to the needs of the MEs and graduate them from a subsistence enterprise to Commercial enterprise.
Please visit http://www.ekutirsb.com
BY Arunraj Arjunan
ON January 19, 2018 01:07 AM
Micro businesses such as small size businesses and also and Medium size business are one of the best methods to elevate people from poverty and supports socially and economically to them.
Large Business Models – multi-million dollar investment business – most of time fully relied on automation which will meets demand on the supply side but not fully and long sustain time for support the social and economical to the nation’s poor people and never eliminate unemployment well so far as along as some visionary leaders will be immerged in the world for betterment of global people.
BY Tom Aageson
ON January 24, 2018 12:42 PM
Here at Creative Startups we are supporting the launch of Creative Industries businesses in our accelerator. Surprise to us the diversity of entrepreneurs in the Creative Industries. We discovered that close to 70% are either women or minorities or both. Hispanic, Native American, African-American. While some scale and create many jobs, most are micro-businesses. We find that internationally as well. This article is exciting breakthrough opening eyes to the value of micro-businesses. We treat all startups equally. Etkie has 7 Navajo women weaving high end gold bracelet; Native Realities created the first Indigenous Comic Con and Mixtros is an innovative company owned by a mother-daughter team who are African Americans. The Creative Industries are exciting.