By Qiana Torres Flores
While many remain unemployed, one
job-creating strategy lawmakers are considering is microenterprise development. Of the nation’s businesses, 88 percent are
considered microenterprises—businesses with up to four employees. These smaller businesses create an average of
900,000 new jobs every year.
Microenterprise development programs assist aspiring business owners who can’t access mainstream bank loans by helping them draw up a solid business plan, training them on how to run a business, and, in some cases, providing start-up capital. There are at least 21 states with laws that foster microenterprise development.
In this edition of the Buzz at State Legislatures (6:12), Qiana Torres Flores of the National Conference of State Legislatures (NCSL) Working Families Project talks about the results states have seen in the capability of these programs to create jobs.