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Microenterprise Development Resources in Michigan : Assessing Coverage, Access, and Outreach

Microenterprise Development Resources in Michigan : Assessing Coverage, Access, and Outreach. Claire Glenn, MNM Coordinator Tracy Pierce, MNM Research Assistant. Thank you. Michigan State University Center for Regional Economic Innovation. What is Microenterprise?. Very small business

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Microenterprise Development Resources in Michigan : Assessing Coverage, Access, and Outreach

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  1. Microenterprise Development Resources in Michigan: Assessing Coverage, Access, and Outreach Claire Glenn, MNM Coordinator Tracy Pierce, MNM Research Assistant

  2. Thank you Michigan State University Center for Regional Economic Innovation

  3. What is Microenterprise? • Very small business • Five employees or fewer • $35,000 or less

  4. Why Microenterprise? • Create jobs • Increase the tax base • Promote local purchasing and hiring • Place-making

  5. Microenterprise in Michigan • 95% • 91% • 88% • Association for Enterprise Opportunity. http://www.aeoworks.org/pdf/states/Microbusiness_State_Factsheet-MI.pdf

  6. Support for Microenterprise • Microenterprise Development Organizations • (MDOs) provide: • Training • Technical Assistance • Microenterprise Lending

  7. Microenterprise Legislation • Why does this research matter? • Microenterprise Amendment to the Michigan Strategic Fund • Self-Employment Assistance Legislation

  8. Research and Methodology • MNM members • MicroTracker census • 22 out of 29 MDOs in Michigan • Two rounds of surveying

  9. Results: Coverage

  10. Results: Coverage Urban bias of MDOs providing microlending services

  11. Results: Online Tools • MichiganMicro.org

  12. Results: Outreach Strategies

  13. Results: Outreach Strategies • Struggle to reach communities: • Specific industries • Specific neighborhoods • Specific demographics "Outside of existing networks, there is no way to reach the vast majority of clientelle."

  14. Solutions and Conclusions:(1) Expand Service Coverage • Policy advocacy • Microenterprise amendment to MSF • Self-Employment Assistance legislation • MDO partnerships • EDCs • Chambers • Commercial Lenders • Other MDOs

  15. Solutions and Conclusions:(2) Broad, Low Cost Outreach • Grassroots marketing • Coin canisters • Cause-related pin-ups • Engaging social media • Television and radio • Public Service Announcements (PSAs) • Local news • CC programs

  16. Solutions and Conclusions: (3) Increase Funds • Community Reinvestment Act (CRA) • Educate CRA officers • Report compliance and non-compliance • Collective clout

  17. Solutions and Conclusions:(4) Improve Brand • Events • Connecting Entrepreneurial Communities Conference • Resource directory and cmaps • Partnerships • Networking

  18. Q&A with Tracy and Claire

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