Alex Paul
Are there budding entrepreneurs in East Linn county who could get a small business up and running on less than $35,000?
Americorps volunteer Katie Fulsher of the Linn-Benton Microenterprise Project would be interested in hearing from you.
Fulsher told the Breakfast Club of the Sweet Home Economic Development Group, Inc. that the goal of microenterprise development is provide a niche service to startup businesses that fall below the radar of most commercial lending programs.
Fulsher works with the Corvallis Neighborhood Services program.
Microenterprises can help persons in low income jobs to supplement their income or provide persons impacted by job losses through events such as plant closures, to create a job for themselves.
They can also assist persons in balancing the needs of family life versus work.
Nationwide, there are more than 500 microenterprise programs which are serving more than 100,000 clients.
Oregon has five full service microenterprise programs in operation with 1,600 entrepreneurs.
Fulsher said microenterprises have many positive outcomes:
— Microbusinesses survive at rates equal to or higher than other businesses.
— They grow and become profitable.
— Those who remain in business increase their assets.
— They create new jobs.
— Some 72% of low income clients increased their household incomes an average of $8,485. More than half (53%) worked their way out of poverty.
— Clients reduced their reliance on public assistance by 61% and household assets increased by almost $16,000 over five years.
— In Oregon, during 2001-20021, five program showed 45% of clients improved their financial health, upping average income by 45%.
— 67% of clients maintained a business or started a new business.
— 64 jobs were created.
Persons who would like to learn more about development of a microenterprise program in Linn county can contact Fulsher at 541-752-7220 or email [email protected].