Leadership Discussion: Empowering microbusinesses in economic recovery
In this episode of Breaking Down Barriers, Host David Ponraj talks to three notable economic development leaders, sharing perspectives from local, state, and federal levels, about empowering microbusinesses that employ fewer than 10 people.
As a result of the pandemic, critical studies were conducted and analyzed to determine how to effectively revitalize businesses that had been negatively affected. The studies, many focused on relief grant distribution, revealed a glaring omission of microbusinesses, which have historically been overlooked by economic developers and lenders. The fact is that microbusinesses represent 90% of ALL businesses nationwide and create 66% of new jobs, according to the SBA. The findings reported that microbusinesses face sizable barriers to capital access and technical assistance, among other vital business resources.
Listen in to the discussion featuring Ryan Cobbins, Program Director for Energize Colorado Gap Fund, Suzanne Perreault, Small Business Program Manager for Michigan Economic Development Corporation, and Connie Evans, President & CEO for Association for Enterprise Opportunity, as they discuss the challenges microbusinesses face, and have long-faced, until a global pandemic revealed a critical need for economic developers to address and rectify, through innovation in resource allocation and policy change.
Learn more about our guests' work:
Energize Colorado: energizecolorado.com
Association for Enterprise Opportunity: aeoworks.org
Michigan Economic Development Corporation: www.michiganbusiness.org
Learn more about EIC: economicimpactcatalyst.com
