Speakers from organizations that support small businesses and entrepreneurship discussed the challenges these businesses are facing during the pandemic. For instance, many small businesses of color were unable to tap government programs like the Paycheck Protection Program because they lacked an existing relationship with a bank. Atlanta Fed president Raphael Bostic moderated the discussion.
The latest Federal Reserve Small Business Credit Survey probes the experiences of firms with no full- or part-time employees. Despite being a key income source for their owners, these firms face acute profitability and financing challenges, says Partners Update.
Two-thirds of firms polled in the Fed's 2017 Small Business Credit Survey have had trouble hiring over the past year. A new discussion paper investigates how firms use compensation, training, and job restructuring to respond.
One outcome of the recent recession is that rural poverty rates are the highest since the mid-1980s. Mil Duncan, founding director of the University of New Hampshire's Carsey Institute, discusses the issues facing the rural poor in an Economic Development podcast episode.
Microbusinesses are a proven job-creation vehicle and promote economic growth. An Association for Enterprise Opportunity (AEO) report suggests their size and impact has implications for local economic development. Kim Alleyne, at AEO, provides highlights from the report in this Economic Development podcast episode.
The 2014 Association for Enterprise Opportunity's national conference focused on the innovations, cross-sector collaboration among players, and policy initiatives that can foster economic opportunity for solo, micro, and Main Street business owners. The Atlanta Fed cosponsored the conference.
Microenterprise development initiatives can help to create and grow businesses and, in many cases, much needed jobs. Elaine Edgcomb and Tamra Thetford at the Aspen Institute discuss their proposal for encouraging microenterprise investment as a job creation strategy.
Stephan Goetz, director of the Northeast Regional Center for Rural Development, discusses his recent research on the growing impact of self-employment as an economic development strategy. He also describes the types of local programs and policies that can support this sector.
Miss a Fed community development call-in? No problem! You can hear the presentations and discussion plus see the slides and related resources online after the session. Materials from the first call-in on September 8, Micro Finance: Helping to Create First-time Entrepreneurs, are available now.
Microenterprises, which employ about 20 percent of the U.S. private-sector workforce, have been especially important since the recent recession. Connie Evans, president and CEO of the Association for Enterprise Opportunity, discusses how economic developers can grow local jobs by supporting microenterprises.