Maybe you’ve heard the term “microenterprise” thrown around in the business world, but do you understand exactly what a microenterprise is? A microenterprise is a business that has five or fewer employees, requires $35,000 or less in initial capital and doesn’t have access to traditional commercial loans. Generally these businesses start off very small, but over time they may grow into large businesses. Today’s post aims to give a quick overview of the rise of microenterprises in the U.S., including Microenterprise Development Organizations (MDO), and the impacts these small businesses have in our local communities.

A Brief History of Microenterprises
In 2006 the world was formally introduced to microenterprises when Muhammad Yunus won the Nobel Peace Prize for his efforts in helping families…

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