Paper
Microenterprise: How Can We Serve Hundreds of Thousands of Low-Income People Annually?
Moving microenterprises from start-up phase to reaching scale
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5 pages
This paper discusses what it will take, from an operational and practitioner perspective, to reach hundreds of thousands of self-employed individuals in the U.S.
Self-employment helps support millions of families in the U.S. However, a majority of this population does not have equal access to financial resources. Microenterprise has proved that people without access to resources can be reached and can grow successful businesses with training and technical assistance.For microenterprise to move from start-up to the phase of reaching scale, it has to face challenges and develop innovations in the following areas:
- Marketing - researching customer needs and aggressive outreach marketing campaigns;
- Sales - becoming more customer driven;
- Strategic partnerships and alliances - leveraging resources, reorganizing and merging organizations;
- Technology - offering on line training and developing new models of microlending;
- Sustainability - strengthening the net worth of organizations and covering costs.
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