- Employs between 1-5 people, including the owner
- Has gross sales from $1 to $500,000
- Requires under $35,000 for start-up
- Microenterprise represents a substantial economic engine within the New Hampshire economy that remains undercounted and under-recognized.
- Microenterprise acts as a “shock absorber” in times of economic change, whether those changes are local (a closed plant), regional (shift in the technology sector) or national (recession).
- Microenterprise is a segment that allows low- to moderate-income people access to the mainstream economy. Self-employment avoids credentialing and educational thresholds that limit eager or isolated people from other economic opportunities.
- Microenterprise has many participants and requires an extensive infrastructure to deliver services efficiently. The small scale of each business inhibits their ability to access typical business services including finance, contracts, expos, and health insurance.
- Microenterprise start-ups are critical to continued economic development and job growth. The specialty services and products of this segment are an important component of the quality of life and vitality of New Hampshire.
- Microenterprises demand access to loan capital, training and technical assistance, and expanded market opportunities that cannot effectively be provided by the regulated and consolidating banking industry.
The impact and importance of this segment on the overall health of the economy is significant despite the micro-nature of the businesses. |
