2007 SUCCESS STORIES

eBay Foundation Techquity Program

eBay Foundation Techquity ProgramA unique national program bridging the digital divide for microenterprises

The eBay Foundation Techquity Program was initiated by the eBay Foundation in 2005 to bolster local businesses with new technology by providing entrepreneurs with cash awards ranging from $500 to $1600 thatenables them to purchase technology essential to their business. After a successful pilot year with four LocalPartners, the program was expanded in 2007 to include a total of nine Local Partners and additional programsupport from the Appalachian Regional Commission (ARC). Since the program’s launch, more than 464 entrepreneurs in seven states in the US received Techquity Awards.

The Techquity Program is managed by the Association for Enterprise Opportunity (AEO), which selected nine microenterprise development programs through a competitive application process to serve as Local Partners and administer awards to their clients in need of technology equipment for their business. The Techquity Program also provides capacity building support to Local Partners for operating the project andproviding technology training to their clients. The Local Partners include:

Appalachian Center for Economic Networks (ACEnet) Athens, Ohio

Business Investment Growth (BiGAUSTIN) Austin, Texas

Jefferson Economic Development Institute (JEDI) Mt. Shasta, California

Lenders for Community Development (LCD) San Jose, California

New Community Development Corporation (NCDC) Omaha, Nebraska

New York Association for New Americans (NYANA) New York, New York

PPEP Microbusiness and Housing Development Corporation (PMHDC) Tucson, Arizona

Renaissance Entrepreneurship Center/ Bayview Business Resource Center (BBRC) San Francisco, CA

Utah Microenterprise Loan Fund (UMLF) Salt Lake City, Utah

In 2007 alone, 308 Techquity Awards totaling over $389,000 were made by Local Partners. The averageaward amount was $1264 and resulted in the purchase of over 700 pieces of technology, creating over $531,000in new business assets. These figures are a testament that the program makes it possible for low-to-moderateincome microentrepreneurs to purchase much needed technology such as software, printers, laptops and more tohelp them compete in today’s economy.

Surveys conducted with the first group of recipients found the Techquity Awards they received in 2006 positively impacted their business-related skills and business income. One year after receiving their awards,respondents reported improvements in all areas of technology and business skills surveyed, with the largest percentage of respondents reporting improvement in basic computer skills (29%), e-commerce (30%), websitedevelopment (33%), and financial management (41%). In addition, survey respondents also reported an averagenet business income of $2520, up from $1700 before the awards were distributed.

The following pages highlight nine businesses that received a Techquity Award in 2007, and the impact theawards have had on their businesses.

Ken and Maria JacksonBrew du Soleil Espresso CaféAthens, Ohio

From grinding the beans and preparing the coffee in the morning to cleaning the equipment and shuttingdown the shop at night, Ken Jackson spends roughly 15 hours a day running Brew du Soleil Espresso Café in Athens, a small town in southeast Ohio. Beforebecoming an entrepreneur, Ken never considered how much time and effort go into running a business nor how much went into just getting it off the ground.

His business inspiration came when he visited Seattle, Washington where he couldn’t help but notice theubiquitous drive-thru coffee shops. Back in his home town of Athens, he thought a drive-thru coffee shop hadbig potential since the rural town had limited available parking.

In 2004 Ken suffered an injury at a factory job, but didn’t let this minor setback get him down. Instead heturned it into an opportunity to start his business. Through the Bureau of Vocational Rehabilitation he receivedgrant money for start-up capital. To begin networking in the local community, he contacted the AppalachianCenter for Economic Networks (ACEnet) in the beginning stages and utilized ACEnet’s consulting servicesalong with other local resources. Ken also uses ACEnet’s shared-use commercial kitchen to store a large portionof his dry goods.

In September 2007, ACEnet awarded Ken and his wife/partner Maria $1600 through the eBay FoundationTechquity Program, which, along with $500 of their own money, allowed them to purchase a laptop computerand business software. “[The laptop] allowed us to list our business on the internet, start a website, and use thebusiness software to create our logo, business cards and letterhead. Our goal is to start selling coffee beans onlineand really get our name out there in the area.” Ken noted that having an online presence is particularly importantin Athens because of the local college community, where both students and visiting parents access the web tofind new things to do.

Local Partner Profile

The Appalachian Center for Economic Networks (ACEnet) is a non-profit economicdevelopment and business support organization located in rural southeastern Ohio.ACEnet has been working since its incorporation in 1985 to build the foundation for astronger, sustainable economy in Appalachian Ohio that has opportunities for those whowant to start or grow their own business.

During 2007, ACEnet provided 24 Techquity Awards to microentrepreneurs in southeastern Ohio.

94 Columbus Road • Athens, Ohio 45701 • 740.592.3854 • www.acenetworks.org

Gayle SkieraThe Money AcademyAustin, Texas

The idea for Gayle Skiera’s Money Academy, a finan-cial education program for elementary school children,was sparked when her daughter became curious aboutmoney. Gayle hosted investment club meetings athome and her daughter, then only eight years old, asked if she could have a club of her own just like mom.After looking around for a suitable investment program for young children, she realized that most programs onlyfocused on how to manage money. She wanted her daughter to benefit from a deeper understanding of moneythat challenged the “borrow and spend mentality of mainstream American culture,” so she decided to organize and lead her daughter’s investment club herself. She says, “[Children] don’t need to know how tomanage a checkbook as much as they need to know, ‘why money?’ They need to know that money is anexchange of resources and the basic resource traded to get money is time.”

Gayle’s unique approach to the investment club was a success and led her to open the Money Academy in2004. The first program the Academy offered was the Grow Your Money Afterschool Program, an investmentclub of 10-15 elementary school children that meets once a week. The first half of the program covers the waymoney works in the world and the second half focuses on the way money can be used. Gayle says that she stresses “using money” as opposed to “spending money” to teach the kids that money is a tool to create wealth.

Since 2004, the business has expanded to include more teachers, a formulated curriculum and standards for clubleaders, and an Entrepreneur Camp. The Camp operates during the spring and summer and gives a group of 20-25children the opportunity to run a real business and learn the value of money and creativity of entrepreneurship.

Part of Gayle’s success is due to the help and support she found at BiGAustin, a Texas-based non-profitmicroenterprise development organization. “BiG was really helpful in getting me to understand all the elementsit takes to have a business grow effectively and profitably,” she says. In September 2007 the organization selectedher to receive a $1200 eBay Foundation Techquity Award, which she coupled with $300 dollars of her savingsto buy a digital and video camera and a new printer. The small investment has made a big impact giving Gaylethe tools to produce her own brochures, flyers, and posters and expand her website to include video clips anddigital photographs. She is also now able to tape her presentations as training tools for club leaders.

By turning her hobby into a business, Gayle feels she has changed as a person. “I’ve expanded into things Ithought I wouldn’t like, and I love it. I’ve become much more compassionate and generous with people. I’velearned to be more organized. It [business ownership] is also a risk and I didn’t think I was a risk-taker.”

Local Partner Profile

Business Investment Growth (BiGAUSTIN) is Texas’ only major comprehensive microenterprise development program providing entrepreneurial education, technical business education, business counseling and direct microlending.

Thirty-seven microentrepreneurs received a Techquity Award through BiGAUSTIN during 2007.

1050 East 11th Street, Suite 350 • Austin, Texas 78702 • 512.928-8010 • www.bigaustin.org

Cara SaundersBear Wallow HerbsSawyers Bar, California

Cara Saunders’ herbal medicine business, Bear WallowHerbs, is not just off the beaten path, it is off the power grid in the mountains of Northern California.Harnessing energy from a nearby creek, Cara powers her home and business with a micro-hydroelectric system, creating the perfect clean environment to grow the high quality herbs used to make her all-natural medicinal products.

Running a business from such a remote area is no easy task, but the Internet makes it possible for her toreach a wider market and sell her products online. She has also found that educating her customers about theplants and herbs used in her products is an essential marketing component for Bear Wallow Herbs and she saysthat this learning experience has been a key to her business success. She includes instructional materials with allher products and holds educational workshops on herbal medicine.

Jefferson Economic Development Institute (JEDI), a non-profit microenterprise development organizationin Mt. Shasta, California, has also played a role in Bear Wallow Herbs’ success. As Cara founded the business,she enrolled in entrepreneur support classes at JEDI. She learned to write a business plan, use QuickBooks software to track sales and expenses, and to personalize her website. A year later in July 2007, JEDI chose Carato receive a $1600 eBay Foundation Techquity Award. With the award and $400 of her own money Carabought a new laptop and printer. The laptop makes it easy to manage her online business from anywhere andthe printer allows her to produce product labels, business cards, and color photo displays for her workshops.Since using the new technology Cara has seen an increase in online sales and return customers.

Bear Wallow Herbs’ success is an inspiration to the community. Cara’s pioneering spirit and hard work haveearned her the respect of her neighbors who know that making a living in their neck of the woods takes hardwork and determination. “I live in a big county with a very small population. I’ve gotten a lot of respect becauseit’s hard to make a living here. Now they see the work I’ve put in is starting to pay off.”

Local Partner Profile

Jefferson Economic Development Institute (JEDI) is a well-seasoned microenterprise assis-tance program that provides business feasibility planning, entrepreneurial training, financialliteracy training, individual business consulting and coaching to enhance profitability, technology training to enhance efficiency and competitiveness, as well as other strategicbusiness workshops and loan preparation assistance. JEDI assists people in Siskiyou Countyof northern California to start and expand a business, create jobs, build assets, and improvethe overall economic self-reliance of low- and moderate-income county residents.

During 2007, 37 microentrepreneurs received a Techquity Award through JEDI.

403 Berry Street • P.O. Box 1586 • Mt. Shasta, CA 96067 • Phone: 530.926.6670 • www.e-jedi.org

Melorra and Melonie GreenInfin8 Sync LLCSan Francisco, California

Twin sisters Melorra and Melonie Green have been part of the independent artist community in SanFrancisco, California since 1999, but were bothered by the lack of collaboration and communicationbetween different sectors. For example, they noticedthat panel discussions for filmmakers on incorporatingmusic into film did not include musicians and this ran counter to the community they envisioned. The sistersasked, “Why should musicians, graphic artists, or filmmakers not open up their conferences and workshops toone another?” This question is the very idea behind their company, Infin8 Sync LLC, which aims to bringtogether independent artists to learn from each other.

Melorra and Melonie formed Infin8 Sync in April 2007 and were soon organizing events for independentfilmmakers, musicians, and graphic artists. Staff from Lenders for Community Development (LCD), a non-profitorganization that promotes asset building and financial literacy as a means of poverty alleviation, attended someof these events to speak with artists about the importance of building credit and assets. In June 2007, LCDselected the Green sisters to receive a Techquity Award of $1400, which the sisters coupled with a 20 percentmatch of their own money, to purchase tapes and DVDs, update their computer software, and lease a camera.Now they can publish their own newsletters, create marketing materials, record events, and edit their ownfootage. Melorra credits the award with helping them to gain some perspective about their company and theirfinances, “The grant made us slow down and pay attention to what our money was going toward. It made usindependent. We know our deadlines and we’re just waiting on ourselves,” she says.

Currently, Infin8 Sync is involved in a number of projects. Acting on a proposal from the Green sisters, the city of San Francisco declared September 7-13 as Independent Artists Week, and Infin8 Sync is helping toorganize and coordinate the events. The company is also preparing to launch their Youth Film Initiative, whereprofessional artists come together and assist a group of kids to make a film. The sisters could not be happier withthe progress their company has made in the span of one year. “We have dancers, painters, musicians, all in oneplace. It makes me fill up inside when artists say the company gives them the boost they need to keep producingart,” Melorra says.

Local Partner Profile

Lenders for Community Development (LCD) helps clients build assets to support their families, employ their neighbors, and revitalizetheir communities through high-impact investments in low-income communities. Their comprehensive approach incorporates housing,savings, credit, and financial literacy, making it possible for clients to build assets – a home, a small business, an education – as well as hope for the future.

LCD made 30 Techquity Awards to microentrepreneurs during 2007.

111 West St. John Street, Suite 800 • San Jose, California 95113 • 408.297.0204 • www.l4cd.com

Karen ColemanTushy CushyOmaha, Nebraska

When Karen Coleman chose to leave her factory job to care for her husband after he fell seriously ill, she was challenged both emotionally and financially. In order to be at home with her husband and pay the bills, she decided to embrace her entrepreneurial spirit and start from the bottom – literally!

Karen found group cycling classes at her local gym to be a welcome stress reliever from the intensity of being a fulltime care-provider. She also found the hard seats of the spinner cycles tobe a real “pain in the butt.” After she entered a weight loss challenge, Karen’s cycling became more intense andshe could no longer ignore the uncomfortable plastic seats of the cycles. One day she traced the seat patternonto a paper bag and took it to a friend who does alterations. Together they developed a padded seat cushion,form-fitted to the spinner cycles. She pitched the colorful cushions to several local gyms and realized that therewas real market potential for the new product. In August 2007 Tushy Cushy was born.

About two months before Tushy Cushy was officially launched, Karen became a client of the NewCommunity Development Corporation (NCDC), a non-profit organization based in Omaha, Nebraska thatconnects community members with housing and business opportunities. NCDC provided Karen with basic computer training, introduced her to QuickBooks software, and connected her with a University of Nebraskastudent who helped her develop a business website.

When it came time to start marketing her business, NCDC helped by providing Karen with a $1200 Techquityaward through the eBay Foundation Techquity Program. She matched the award with $300 of her own moneyand purchased a new computer and printer. The new technology gave her business a boost, but perhaps mostimportantly, the award and support from NCDC gave Karen the encouragement she needed. “NCDC believes inyou so much that it gives you inspiration and accountability. They make you feel that you can do it,” she says.

In addition to her business, Karen now runs Tommy Foundation, a non-profit that provides two months offinancial support to people who are forced to leave their jobs in order to care for a spouse. The Foundation isfunded almost entirely through donations of aluminum cans. When Karen took leave from her job, she was ableto make the best of a difficult situation. Now she is working to support others who are faced with the same challenge. She says, “When I went back to work I thought about other people in the same situation and howthey managed. The stress can be difficult for you and the person you’re taking care of. The Tommy Foundationcan provide some assistance and it’s a great way to recycle.”

Local Partner Profile

New Community Development Corporation (NCDC) offers core business services such as microlending, networking, technical assistance and training. In addition, NCDC provides information and referral services to NCDC clients, as well as small minority and women-owned businesses in the community.

NCDC provided 26 microentrepreneurs with a Techquity Award during 2007.

1701 North 24th Street, Suite 102 • Omaha, Nebraska 68110 • 402.451.2939 • www.ncdcomaha.org

Olga BosioLove A Lot PreschoolNew York, New York

In 2005 Olga Bosio’s dream of owning a preschool became a reality thanks to a $35,000 start-up loan from the New YorkAssociation for New Americans (NYANA). Two years later, highdemand for the kind of reliable dedicated childcare Olga providesled her to open a second school. Today the two schools teachmath, language, music, art and more to 100 preschool children.

Olga’s journey to business success started 20 years ago in hernative Brazil where she worked as a teacher. After immigrating tothe U.S. she earned extra income taking care of children and in 1981 became a licensed family childcareprovider. She started out caring for five children in her home in New York City’s Upper West Side, and herapproach to childcare was well received by neighborhood parents. Her reputation as a quality childcare providerquickly grew just from word of mouth. Before long the demand for her services led her to expand and open adaycare center in a nearby building. When the building was sold five years later, Olga was ready to open a preschool as she had always planned.

NYANA’s financial support made it possible for Olga to open Love A Lot Preschool and the organizationcontinues to support her success. In March 2006 NYANA selected Olga to receive a $1000 Techquity awardthrough the eBay Foundation Techquity Program. She matched the investment with $1000 of her own savingsand purchased a laptop computer and two digital cameras. All of the preschool’s business records are now easilyaccessible and manageable on her new laptop. “It’s unbelievable, with the computer all the data, tuition fees,receipts, banking statements – it’s all on the computer. I don’t think you can run a business without a computer,”she says. The cameras have also been good for business. She takes pictures of the students throughout the year and develops slideshow presentations for parents at each year’s graduation.

Olga is proud of what she has accomplished but says that being a successful business owner has not changedher as a person. And she still has big dreams: “I love what I do. It’s a lot more responsibility and there are someheadaches with any business. But it’s fun to work for yourself. I’d like to have a whole elementary school if I can.”

Local Partner Profile

The New York Association for New Americans (NYANA) Business Center has been pro-viding microenterprise development services since 1998. An SBA-approved IntermediaryLending Institution, the Center offers an array of services including classroom training,individualized technical assistance, and comprehensive credit and savings services. For theTechquity Program, NYANA partnered with New York Creates, a program that assistscraft and folk artists and artisans in enhancing the income they receive practicing their art,thereby bringing greater economic progress to the artists and their communities.

In 2007, 33 microentrepreneurs received a Techquity Award through NYANA and New York Creates.

2 Washington St. • New York, New York 10004 • 212.425.2900 • www.nyana.org

Irma CorreaIrma’s Floral and Gift ShopSan Luis, Arizona

Irma Correa is no stranger to hard work. For years, Irma migrated between Arizona and California, work-ing in lettuce fields and following the seasonal meloncrops in order to support her children. The work wasdifficult and provided little income for her family. Shewould often leave for work before dawn, not returninghome until after sunset.

Irma knew she could not endure the hardships of agricultural labor forever and she constantly worried about her children’s future. She dreamed of owning her own business for an opportunity to better provide forher family and spend more time with her children. She felt it was necessary to develop a plan to create a business where she could apply her skills.

Irma always loved flowers and has an eye for the details of floral arrangement, so she started her own floraldesign business in San Luis, a town in southwest Arizona along the Mexican border. In October 2002, shereceived a loan for $5000 from PPEP Microbusiness and Housing Development Corporation (PMHDC) andopened Irma’s Floral & Gift Shop to the public.

PMHDC continued to help Irma by providing consulting services and assistance with developing a marketing plan. In July 2007 the organization chose Irma to be the recipient of an $800 eBay FoundationTechquity Award to purchase new technology equipment for her business. Contributing $200 of her ownmoney, Irma was able to acquire a desktop computer and printer. Today, Irma’s Floral & Gift Shop has its ownwebpage and is the only floral business in town that sells products over the internet. Since receiving the award,Irma has taken a computer training course at PMHDC and learned how to do her bookkeeping electronically,which allows her to spend less time on paperwork and more time creating floral arrangements.

Now in its eighth year of operation, the success of Irma’s Floral & Gift Shop has afforded her family withthe opportunities she had imagined. No longer does Irma have to sacrifice time with her children just to provide for her family. More than that, she loves witnessing the joy flowers can bring to people. “The mostrewarding aspects of being a business owner are being able to provide a service to the customers and the satisfaction of seeing the smiles on their faces when they receive my floral arrangements,” she says.

Local Partner Profile

PPEP Microbusiness and Housing Development Corporation (PMHDC) providesmicrolending services and technical assistance to low-income rural communities. For20 years, PMHDC has provided over $13 million in loans averaging $6500 tolow-income families operating small enterprises in the rural communities of Arizona.Along with credit services, PMHDC has provided tens of hundreds of hours in training,business management, and marketing to over 1400 "family style" enterprises. PMHDC alsoprovides opportunities for farm worker families to start their own microbusiness by providingthem with computer training in three computer labs located in three of Arizona’s border communities.

During 2007, PPEP made 41 Techquity Awards to microentrepreneurs.

820 E. 47th St., Suite B-14 • Tucson, AZ 85713 • 520.889.4302 • www.azsmallbusinessloans.com

Kachusha MukantaChuey BrandSan Francisco, California

Less than two years after competitive cyclist Kachusha officiallyfounded Chuey Brand, offering urban style bicycle caps and apparel, his caps can be found in 26 stores across the United States and three in Japan. By cutting apart different biking caps and sewing them back together with colorful cuts of repurposed fabrics, Kachusha put a fresh look on an old product and gave them as gifts to his friends. They were a hit even among non-cyclists and the positive feedback he received led him to believe that he could turn his new product into a business.

Kachusha recalls that time as critical because he was ready to capitalize on the buzz about his biking capsand seriously commit to starting a business. Still, he was not sure how to convince stores to sell his products. Heknew he needed to utilize the internet to contact bike shops and send digital photos of his caps, but was unsurewhere to begin and how to access the startup capital.

Bayview Business Resource Center (BBRC), a small business development program of RenaissanceEntrepreneurship Center in San Francisco, California provided Kachusha with one-on-one business counselingand gave him the assistance needed to get Chuey Brand off the ground. “It’s not hand-holding. They motivateyou, give you the practical feedback you need, and are also great with networking resources,” he says. BBRCconnected him with accountants, web developers, and small business owners who mentored him on the foundations of running a business. They helped the new entrepreneur look beyond his products and commit toall aspects of running a business. In September 2007, BBRC awarded Kachusha a $1600 eBay FoundationTechquity Award. With the award and $420 of his own money, he purchased a laptop computer to market hiscaps online and to send digital photographs to prospective customers. He is also working on launching an official website.

Today, Chuey Brand produces an array of one-of-a-kind caps using recycled leather, denim, suede, and cottonfabrics, and has expanded to t-shirts, sweatshirts, and jackets. Kachusha’s success is a result of his creativity, butthe support from BBRC and the Techquity Award challenged him to become more responsible and plan for allaspects of his business. He says, “Right now, I feel like I’m everything – accountant, marketing and salesman.The biggest change is accountability; I can’t look to others for this. It’s about personal responsibility and that’smade me a more confident person.”

Local Partner Profile

Bayview Business Resource Center (BBRC) is a program of the RenaissanceEntrepreneurship Center and provides business resources, training, and support to emerging and established entrepreneurs, allowing them to grow thrivingbusinesses in the Bayview and Hunters Point areas, as well as throughout San Francisco.

Fifty microentrepreneurs received a Techquity Award through BBRC in 2007.

3801 Third Street, Suite 616 • San Francisco, CA 94124 • 415.647.3728 • www.rencenter.org/bay.htm

Julia HollingsworthRising Artists StudiosSalt Lake City, Utah

Ever since her alternative-rock band disbanded severalyears ago, Julia Hollingsworth imagined different ways she could stay involved with the music industry. Inearly 2007 she was working a nine-to-five job in a doctor’s office and preparing for nursing school whenshe made the difficult decision to follow her passionand become a style and performance coach for young singers and musical acts. Rising Artists Studios was officially launched in February 2007, offering clients a mentoring package that includes both vocal and perform-ance training, connections with songwriters and recording studios, as well as event booking for some artists. “Itake them from a place where they have good vocals but have no idea about image, style, or musical identityand I help them discover that,” she says.

A few months after forming Rising Artists Studios, Julia realized that her outdated computer equipment didnot suit the needs of her growing business. Through a program at the Salt Lake City Community College, shewas referred to the Utah Microenterprise Loan Fund (UMLF), a non-profit community development financialinstitution in Salt Lake City, Utah. Soon after contacting UMLF in November 2007, the organization selectedher to receive a $1600 eBay Foundation Techquity award. In addition, UMLF loaned Julia $900 to match theaward, allowing her to purchase a new MacBook computer. With her new equipment, she can burn CDs, editphotographs, music, and videos, and create electronic press kits with her clients’ demos and profiles.

Julia has since repaid her loan to UMLF and Rising Artists Studios now has clients referred from 18 vocalinstructors in the area, with styles ranging from punk-rock to pop. She continues to scout for new talent on theweekends and has even started booking shows regionally. She is considering hiring on additional staff and is alittle overwhelmed by the administrative obstacles that accompany a growing business. For Julia, it is enoughjust to be able to support herself doing something that she loves. “It’s the best thing that could ever be. I enjoyit so much. To watch them grow and develop, even the older clients, is just amazing. It’s everything to me and I wouldn’t trade it for the world,” she says.

Local Partner Profile

Utah Microenterprise Loan Fund (UMLF) is a microenterpriseorganization focused on providing business financing to borrowerswho cannot obtain it through traditional means. UMLF currentlyprovides training for borrowers and is seeking to strengthen borrower support programs.

In 2007, thirty microentrepreneurs received a Techquity Award through UMLF.

154 Ford Avenue, Suite A • Salt Lake City, Utah 84115 • 801.746.1180 • www.umlf.com

Philanthropy has been an important part of eBay since its very beginning. eBay Foundation was established in1998 and, reflecting eBay innovation, was the first corporate foundation to be endowed with pre-IPO stock. eBayFoundation’s mission is to contribute to the economic and social well-being of local communities. In carrying outthis mission, the Foundation engages eBay Inc.’s Community members and employees and supports their pursuit ofcharitable giving and volunteerism. Since its inception, the Foundation has contributed more than $17 million tononprofit organizations worldwide.

To learn more about eBay Foundation and eBay’s Global Citizenship efforts, visit www.ebay.com/foundation.

The Association for Enterprise Opportunity (AEO) is the national leadership organization and voice ofmicroenterprise development. For nearly two decades, AEO and its hundreds of member organizations in the U.S. have helped more than two million entrepreneurs support themselves and their families and contribute totheir communities through business ownership.

To learn more about microenterprise or AEO, visit www.microenterpriseworks.org

Association for Enterprise Opportunity 1601 N. Kent Street, #1101 • Arlington, Virginia 22209 • p: 703.841.7760 • f: 703.841.7748 • www.microenterpriseworks.org

What is microenterprise development?Microenterprise development is a proven pathway to business ownership for underserved entrepreneurs thatgenerates income, builds assets and supports local economies in creating employment. Many AEO memberorganizations are microenterprise development “practitioners.” Their sole focus is small business develop-ment, serving aspiring and established entrepreneurs often with a special focus on underserved populations.

What are microenterprises?The Small Business Administration defines a microenterprise as a business with five or fewer employees,requiring $35,000 or less in initial capital. Historically, microenterprises have been considered the backbone of the U.S. economy. AEO estimates there are more than 23 million microenterprises in theU.S., representing 18% of all private U.S. employment and 87% of all businesses. One out of six U.S.private sector employees works for a microenterprise.