A micro-mini business is the size of business that the average person could start with a little help. Most of us are familiar with the term small business. The term may imply that even your neighbor could be operating such a business.
Did you know that small businesses includes multi-million dollar companies? In many cases, depending on your neighborhood, your neighbor is not operating a small business. Perhaps that same neighbor has a business, but small does not describe such a business. The point that I am making is: What is the true definition of a small business? According to the SBA.gov ( Small Business Administration) website, a small business is one that grosses up to seven million dollars. Based on this information, it is obvious that many unemployed people will not open a true small business. While it is true that a seven million dollar business did not start at that level of revenue, I do not want to confuse the issue by saying that unemployed people should get help in starting a small business.
The unemployed should be assisted in starting micro-mini businesses that would be in place of the job that they cannot find in this economy. Why a micro-mini business? Because there are agencies that do assist potential business owners who want to begin micro-businesses. Those agencies receive federal dollars to operate. They can lend up to $100,000 to clients who do their homework and have the necessary documentation, sufficient credit history and a business plan.
So my thoughts focus on the unemployed who would not be eligible for micro-loans. These people may not ever work again if left to their own devices. While I am not advocating that every unemployed person start a business, that option should be available. The chronically unemployed are facing challenges not easily overcome.
Lack of job skills, being over age forty-five, having a criminal history, negative credit, poor job history can result in being pushed to the back of the employment line.
A program that could offer a $5000 grant to any unemployed person to start a home-based business could be an option for a jobless person with the motivation and support to become self-employed. Safeguards could be built into the program to prevent waste and fraud. Why not try more than one thing to help people and the economy?
These types of businesses would be micro-mini businesses where the goal is to make at least $25,000 annually. After that the owner could expand, based on the experience obtained while still small.
Once a person has experience running a business his/her knowledge increases. This knowledge and experience can be the beginning of another chapter. Learning to be a business person and being self-sufficient can be as valuable as having a college degree.
Let's find a way to help people start micro-mini businesses.
No comments:
Post a Comment