GRAYLING – The Crawford County Economic Development Partnership will celebrate National Micro-Enterprise Day on October 22 by hosting an open house at the CCEDP office to draw community attention to the local impact of the micro-business community.

Studies show that money spent at a locally owned business stays in the local economy and continues to strengthen the economic base of the community. A 2002 case study in Texas showed that for every $100 in consumer spending at a local bookstore, the economic impact within the community is $45 compared to only $13 for a national chain.

In economically distressing times, when we must purchase food, products, and services, the best option is to purchase locally, leveraging our pocketbook for the health of our local economy.

Small and micro-businesses account for the largest share of net new jobs generated each year, and locally based business provide some of the most stable employment opportunities in a community. Micro-business owners are the foundation of the American economy. They create new jobs; develop new industries, new technologies, and new solutions for local and global problems.

They create opportunity for our youth, unique neighborhoods in our cities, and vibrant rural communities. They are the family farmer, the quilt maker, and the honey producer; they run grocery stores, small motels, restaurants, and small manufacturing plants. The neighborhood florist, wedding planner, and jewelry maker are the men and women who protect, nurture, and rejuvenate the American Dream.

Small businesses are the economic engine of the U.S. and nothing embodies the American Dream more than small business ownership. Our nation�??s smallest of small businesses, micro-enterprises (businesses with 5 or less employees), may be relatively small, but they are making a very large difference when it comes to job creation and help for our nation�??s struggling economy.

There are an estimated 24 million micro-enterprises in the U.S. today, representing 18 percent of all private sector employment.

One out of every six private sector workers is employed by a micro-enterprise.

More than 87 percent of all businesses in the U.S. today are micro-enterprises.

More than 3.8 million new jobs were created in the U.S. by micro-enterprises between 2000 and 2005

On average, micro-enterprises are responsible for 900,000 new jobs created per year.

Over $300 million in loans have been made by micro-enterprise development organizations.

During this time of economic instability we must invest in the businesses that will produce jobs and support our communities and their economies. The micro-enterprise industry has a 3 to 1 return to our national economy for every federal dollar dedicated to it. As new federal support becomes available, the industry leverages it with private investment, and its own income generation to create a sustaining and growing pool of funds that continue to generate the entrepreneurial spirit for the inspired American Dream.

Every day we pick up the newspaper and read about the deepening affect of the current financial crisis. In our community, businesses will close when they cannot find the credit necessary to meet payroll and families are worried about their mortgages and sending their kids to school.

What we do not read about is that part of the economy which is working �?? about the local economic heroes �?? the micro-entrepreneurs. I am writing today because I think it is time we invest in these American Heroes, support them through our purchasing power, and make sure that they can access needed resources. These micro and small businesses have in the past, and will again, stabilize our local economy, create jobs, and spur economic growth. America needs these businesses more then ever and they in turn need the resources of the micro-enterprise industry.

Locally, the Crawford County Economic Development Fund (EDF) has money available to loan qualifying businesses, including micro-enterprises. For more information, contact County Administrator Paul Compo by email at email [email protected]

The Small Business Administration defines a micro-loan as $35,000 or less. Micro-loans specifically target aspiring and existing entrepreneurs who would otherwise face difficulty obtaining access to capital.

According to 2005 U.S. Census Bureau and Dept. of Commerce data, micro-enterprise businesses total 1,080 in Crawford County. This means 87.80 percent of all county businesses are classified as micro-enterprise – slightly higher than the state average of 87.13 percent being micro-businesses. Of this 87.80 percent, 876 have no employees and 204 employ 1 – 4 persons. Three hundred fifty-four Crawford County businesses have employees.

CCEDP assists the existing business community by preparing a customized Business Solutions Proposal (BSP) to assist a business in becoming more productive and profitable. A BSP identifies growth opportunities, facilitates growth, technical assistance, and creates personalized staffing and training proposals. To schedule a BSP appointment for your business, contact Gaila Gilliland at email [email protected]

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