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Micro_Loans_Can_Mean_Macro_Success_for_Your_Business
| Micro Loans Can Mean Macro Success for Your Business
"Inch by inch, row by row...that's the way my garden grows" was
a favorite saying of my grandmother's -- usually when she was
trying to teach me something about patience!
While I've never learned the art of having patience, I have
learned that that particular saying can apply to creating a
successful business.
If you've got big dreams for starting or growing your own
business, but you lack the start-up capital, technical
assistance or training that you need to succeed, then start by
thinking...small.
In fact, think smaller than small. Think micro -- as in
"microenterprise development programs".
What is a microenterprise development program?
Basically, it's a government sponsored or supported program that
provides start-up or expansion capital, technical assistance and
training to microbusinesses. It's designed to help entrepreneurs
who don't have access to traditional means of credit. Which
means that if you're low-income, you've got bad or no credit,
you don't have enough collateral to apply for a business loan --
then you're a good candidate for a microloan.
Need other help?
How about training? Learning to write a business plan? Want to
go back to school? Need help understand how to put together a
cash flow statement?
Most microenterprise development programs also offer training,
workshops and other assistance. If they don't offer it
themselves, they'll be able to refer you to a community
organization that does, and guess what? The help is often free,
or offered for a very low cost!
What is a microenterprise?
It is any business that can be started for less than $35,000,
has fewer than five employees and has an annual revenue of less
than $100,000.
What kind of businesses are eligible for microenterprise loans?
Traditional businesses such as: beauty parlors, bakeries, repair
shops, childcare facilities, and arts and craft sellers.
Nontraditional businesses such as: massage therapists, event
planners, soap manufacturers and acupuncturists.
If you want to start and run your business out of your home? You
can. If you're ready to move out of the basement and into your
own building? Microenterprise can help.
Where can you Find a Microenterprise Development Program in Your
Community?
*Check out local nonprofit organizations such as the United Way,
local community colleges or Small Business Development Center
*Talk to a SCORE Counselor *Visit your local Chamber of Commerce
*Contact your local women’s organization or other small business
group *Visit http://www.microenterprisesuccess.com for free
resources, information and helpful articles
So...start small, but dream big!
About the author:
Cheryl Antier is the President and CEO of Dream Weaver
Enterprises, a business and fundraising consultancy firm that
helps small business owners and nonprofit organizations “weave
their dreams into reality” by helping them find the funding they
need. Microenterprise can help small business owners get the
start-up capital, training and technical assistance to start,
build and grow their business.
http://www.microenterprisesuccess.com
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