Needed: Micro Entrepreneurs

by: Mr. Gene Franklin, Chairman of the Board, Access Florida Finance Corporation

Micro-enterprises are businesses that employ five or less employees and are not readily visible in the business community. These businesses are managed by average citizens, but most citizens believe that business ownership is something increasingly beyond the reach of ordinary working people. Fortunately, this perception is untrue. Micro businesses are being created every hour, by ordinary people who have skills that can produce income for themselves and their families. Now is the time to change this perception.

The current economic climate dictates that we must begin to think outside of the box and find ways to create jobs for our residents. If, as a country, we are going to break the yokes of the cur rent economic climate and stem the slide of many who are facing poverty situations, we must develop an organizational structure that will assist in the development of micro-enterprise businesses. To support this infrastructure, more effort must also be given to making more micro-loans available to micro-businesses, especially in rural areas and the inner cities. With today’s technology, micro-enterprise businesses can become participate in the global economy. These tiny businesses employ most of the world’s workers.

The real backbone of world commerce and global employment is made up of the millions of vey small enterprises that farm small plots of land, cook food, provide daycare for children, make clay pots or straw mats by hand, perform piece work for manufacturers, and carry out untold other tasks that larger business contract out. In our great country, where most people work for big business and government; more than a quarter of all employees work for establishments of fewer than 20 people and those businesses constitute 87 percent of all U.S. business establishments.

Because of the above and many other considerations, it is time for economic developers and business leaders to consider creating employment opportunities by utilizing job training dollars, in part, to train micro-entrepreneurs and create a more robust business climate that will create jobs and improve opportunities for Florida citizens. Micro- businesses are more flexible and mobile than larger businesses. They provide part- time work for women and men who have to take care of children and family members; and seasonal work in places where crops have to be harvested. They require little capital or office space for startup. They can thrive in rural areas, thereby slowing the rush to urbanization. Jobs in micro-enterprises are accessible to immigrants and disenfranchised people who need to moonlight or share jobs. And they are run by women, as often as men, promoting equality in the workplace.

Finally, micro-enterprises offer a simple way of bringing eco- nomic development and social benefits to poor communities, without major infrastructure. In recent years, some socially concerned lenders have begun to demonstrate their willing- ness to lend to micro- businesses, defying the usual rules, by creating agreements that the borrowers will repay the loans out of their profits. Some lenders require a co-signer, but are not collateralized.

Non-collateralized co-signer loans are reported as having a ninety nine percent payback rate and have little overhead. The co- signer is required to perform the duties of the lender. Ingenious peer pressure!

Florida is an outstanding business state and is poised to lead the nation in job creation. Access Florida will continue to create products that will assist in the creation of a Micro-Enterprise infrastructure and foundation. Need information on a micro-loan?

Contact us and let’s start rebuilding Florida’s communities. There is an abundant of entrepreneur opportuni- ties, especially in a down economy. Wealth in America is tradi- tionally created in a down econ- omy.

Join the business community, become a micro-entrepreneur!

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