Celebrate National Microenterprise Day

This Wednesday, October 22, 2008, is National Microenterprise Day. It’s a day to recognize local businesses, entrepreneurship, and an investment in the American Dream.
We constantly hear about the deepening affect of the current financial crises. Many businesses are closing and people are worried about their financial security and future.
 
What we do not hear about is the part of the economy that is working, the local economic heroes in all our communities – the microentrepreneurs and small businesses.
 
Microenterprise and small businesses are the backbone of America. They create new jobs, generate income, build assets and support local economies. They create opportunity and vibrant rural communities. They are the family farmer, the artisan; they run stores, restaurants, garages and small manufacturing plants.
 
There are an estimated 24 million microenterprises (enterprises with five or fewer employees) in the US, representing 18% of all private employment in the country. More than 87% of all businesses in the US are microenterprises.
 
Nationally, microenterprises created more than 4.5 million jobs in the past five years. And history points to the important role microenterprises and small businesses play during economic slowdowns. In 2002, during the nation’s last recession and at a time of high unemployment, microenterprises and small businesses created nearly 1 million new jobs.
 
To celebrate National Microenterprise Day, we can make a commitment everyday to support our local businesses. This will stimulate the economy, providing additional resources for the entrepreneur to create jobs and rebuild America’s economy.

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