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When employment is limited, resourceful individuals find ways to create their own jobs. Microenterprise Development Organizations (MDO's) in Washington reported a 50% increase in services in 2009--up 1,200 clients from 2008. More than 3,600 individuals sought business assistance services from Washington's MDO's. And we're not just talking business creation; these organizations assisted with the creation of more than 470 jobs in 2009!
Financing businesses, especially those in the start-up mode, is something most financial institutions have stepped away from-- not microlenders. Microlenders are the locally based organizations providing access to capital in their communities. Washington's microlenders have lent $1.9 million in small loans (average loan $7,000) and counting. As traditional sources restrict lending activity, the capital demand on MDO's has shifted and grown.
Although effectively addressing entrepreneurship, jobs and capital (deemed one of our most promising recovery strategies), MDO's still struggle with having sufficient resources to meet the demand. Find out how you can help Washington's MDO's help their communities, by contacting WSMA today.
Teresa Lemmons, Executive Director
Washington State Microenterprise Association
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WSMA Announces most recent Grantees!
Congratulations to
Benton-Franklin Council of Governments, Enterprise for Equity, and Lower
Columbia Community Action; each recipients of our Microenterprise Project Grant
award.
Benton-Franklin Council of
Governments, Richland, WA:
Funding aids Benton-Franklin Council of Government's capacity to start
a microenterprise development program in partnership with Benton City. This project will provide the foundation for microenterprise
development support in Benton and Franklin Counties.
Enterprise for Equity, Olympia, WA:
The project supports outreach,
education, business development, and loan assistance for low-income farmers of
South Puget Sound and Native entrepreneurs from the Squaxin Island, Nisqually
and Skokomish tribes.
Lower Columbia Community Action,
Longview, WA:
Building on the financial education and self-sufficiency work in
Cowlitz and Lewis counties, this project will create access to self-employment and
micro-business assistance in a previously underserved area of Southwest
Washington.
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WSMA welcomes our newest member:
Rainier Valley Community Development Fund
Since 2006, they've loaned over $8.5 million to small businesses and
real estate developers in Rainer Valley, and provided business
assistance to dozens more. They work with new and established businesses and with both for-profit and
non-profits seeking to develop projects for the Rainier Valley. They've
helped 140 Rainier Valley residents start careers in the construction
industry.
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 Do you have a concept that demonstrates potential to make a difference
in the lives of low-income Americans?
Here are the exciting opportunities to
which you can apply using the online application system:
- Innovators-in-Residence
are individuals who are prepared to take a proven concept to the next
level during a virtual or in-house residency with CFED.
- Innovative Ideas are solid concepts that have the potential to significantly
impact economically vulnerable people. Selected Innovative Idea
Champions will be featured in front of a 1,000-person audience at the
Innovation Marketplace at the Assets Learning Conference, September
22-24, 2010 in Washington, DC and will receive other valuable benefits.
- International Ideas recognizes that fresh perspectives from around the world can
improve the economic well-being of low-income Americans and enhance the
Conference's idea exchange.
- Next Generation Innovators are young people, aged 18 to 30, who have
ideas to expand economic opportunity or who have talents and energy to
share with the Conference.
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Self-Employment Tax Initiative (SETI)
Unincorporated, self-employed business owners must file a Schedule C
each year to report any business income (or loss.) Each year over 2
million individuals file for the first time, and many of them would
benefit from support through free tax preparation programs. These
programs are an invaluable resource and partner in offering
microenterprise assistance and financing. In 2005, CFED launched SETI to
support tax preparation efforts that were reaching low-income business
owners.
Local SETI Partners
This year, United Way of King County (UWKC)will partner with StartZone, a microenterprise
development initiative of Highline Community College. To promote the
Schedule C services, UWKC will also expand partnerships established last
tax season, including those with the Washington Community Alliance for Self-Help ("CASH") and Childcare Resources. CASH is a microenterp rise
development organization that provides underserved individuals with
access to capital and business development training, and Childcare
Resources is a support and referral network for home daycare providers.
"Small Business Super Saturday"
Free Tax Preparation Assistance
Saturday, April 3, 2010
10:00am-4:00pm
2100 24th Avenue S., Room B
Seattle, WA 98144
Free tax preparation for self employed individuals in King County
with a total combined household income of less than $50,000. Hosted in
collaboration with StartZone, Highline Community College, 206-878-3710
x9510, nshah@highline.edu.
Making Work Pay Flier (PDF)
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2010 National Microenterprise Conference &
Training Institute: May 10-13th in Arlington, VA
Small
businesses face significant economic challenges. To explore the bold, innovative
and extraordinary solutions they need, the Association for Enterprise
Opportunity and the U.S. Small Business Administration are excited to present
the 2010 National Microenterprise Conference & Training Institute.
Register Today! Early bird registration
has been extended to April 9th.
www.microenterpriseconference.org
This
conference will feature:
-Information packed plenary sessions on Washington's latest
recommendations for small businesses.
-Thought provoking Town Hall Meetings to
gather ideas and resources
-Over 30 skill-building, practice-focused
workshops.
-Networking opportunities to build
relationships and collaborate with pioneering small business development
programs nationwide.
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Grassroots & Groundwork Conference
Seizing Opportunities to Reduce Poverty &
Build Community Prosperity
Red
Lion Hotel on the River- Jantzen Beach
Portland,
Oregon
May
13-14, 2010
This conference is about shining a light on practical strategies and
tools working - right now - to reduce poverty and build sustainable
prosperity.
Grassroots & Groundwork touches on a wide range of
solutions in a variety of venues:
Smaller, more intimate 70-minute break-out
sessions
that showcase proven, innovative poverty-reduction models and tools Unique Q&A session with distinguished activist Marian
Wright Edelman,
founder of Children's Defense Fund Keynote address by Paul
Saginaw, nationally recognized advocate for socially
responsible business Site
visits to successful and unique Portland poverty-reduction
projects, sponsored by the Portland Economic
Opportunity Initiative Half-day hands-on interactive workshops as part of the
Community-Builder Institute.
You'll have a chance to network throughout the conference. We're even
hosting a special networking reception
for all conferees on Thursday night.
Don't miss this opportunity to share, learn and connect!
Register Today!
http://grassrootsandgroundwork.org/
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Credit Builder Training 
On March 15
& 16th, almost 60 MDO and asset building practitioners attended the
WSMA & Credit Builders Alliance free training* on credit building. Because of high demand to attend, WSMA opened a second day to accommodate registered participants and partners.
Many attendees are already initiating positive
changes in their programs and communities due to knowledge gained
during the training. A few attendees are working to schedule similar trainings within their own communities.
Visit Credit Builders Alliance's website for more information and to
access their credit building toolkit.
Visit WSMA's Event page to view the PowerPoint slides used during the training.
* Special thanks to
Bank of America and the SBA for funding, in part, this training opportunity for practitioners in Washington state.
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Become a
WSMA Member
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WSMA members work together to strengthen microenterprises and support entrepreneurs throughout our state. Join our network today. |
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Thurston County Chamber of Commerce explains how the Business Development Continuum works
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This article explains how Microenterprise Development Organizations, (MDO) are a key part of business development in our communities. Enterprise for Equity is the MDO highlighted in this example. PDF of article |
New!
WSMA Facebook Page
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Become a
Fan today! All entrepreneurs, microenterprise professionals and advocates are encouraged to join.
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