| What is micro enterprise?
 A locally
owned business
A business
with fewer than 10 employees
A business
capitalized with less than $50k
Financial Impact
Generates
significant tax revenues
Builds solid
economic base
Dollars stay
in state
Decreases
demand for state assistance
Generates jobs
Other Benefits
Starting point
for MOST larger businesses
Least likely
to relocate out-of-state
Owners serve
as local community leaders
Stimulate
community revitalization
Create
opportunities for low and moderate income individuals
Connecticut’s micro enterprise
315,000
micro enterprise businesses statewide
Generates
$15.3 Billion in sales annually
73% of all
Connecticut businesses are micro enterprise
28, 000
micro enterprise started in 2004
Employs
400,000 CT residents
Generates $430
million in CT state tax revenues annually
Employs twice
as many people as the top 25 employers combined
Cost to create a new job in an established industry =
$40,000
Cost to create a new job in Micro enterprise = $10,000
Resources that help grow micro enterprise
Access to Capital
Smaller loans
Flexible
financing
Creative
approval process
Alternative
use of collateral
Innovative
payment plans
Integrates
high risk business into the market place
Business Counseling
One on one
business counseling
Skill
development and training
Business
planning and financial literacy
Startup
support and guidance
Marketing and
promotion
Reducing risk
and business failure
|
