Micro Enterpreneurs in US

Micro Business is the small business which have an employee fewer than five employees and have startup costs of less than $30.000. The micro business owner known as micro enterpreneurs. There are 22 million micro enterpreneurs in the US. Owners of bakeries, beauty parlors, child care facility, repair shops, arts and crafts shops, small-scale restaurants are people known as micro enterpreneurs.

A lot of micro enterpreneurs sometimes lack the skills important to manage their finance business aspect. The result is, a lot of micro enterpreneurs can’t grow and develop their business beyond a micro enterprise. Presence of Micro Enterprise with their development program have helped micro enterpreneurs achieve great success and growth.

What kind of micro enterprise that could help? The answer is the micro finance company like Grameen Bank in Bangladesh which found by M Yunus. Is it exist in America? The answer is yes it is.

Yet Yunus believes that in just a few years Grameen America will be so successful that it turns a profit, thanks to 9 million U.S. households untouched by mainstream banks and another 21 million using the likes of payday loans and pawnshops for financing. Profit has long eluded U.S. microfinanciers. “If it’s not profitable, it’s not microlending — it’s charity,” Yunus said on a recent trip to the U.S. The question, then, is whether there is a role for a Third World lender in the world’s largest economy.
That was also true when Grameen first came to the U.S., in the late 1980s, and tripped up. Under Grameen’s tutelage, Southern Bancorp started making microloans to entrepreneurs in Arkansas. At first, the loss rate was a shocking 30%. Even after getting that under control, Southern found that what people really needed wasn’t seed capital but broader help developing work skills and finding jobs

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