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MICROENTERPRISE FINANCING - IS IT RIGHT FOR YOU?
Microenterprises are flourishing!
Industries that have seen the most growth of microenterprise include:
· SPECIALTY FOODS · JEWELRY · ARTS, CRAFTS AND GIFTS · CLOTHING AND TEXTILES · FURNITURE · COMPUTER TECHNOLOGY · DAYCARE · ENVIRONMENTAL PRODUCTS AND SERVICES
WHAT IS MICROENTERPISE?
The Association for Enterprise Opportunity (AEO) and the microenterprise development industry have defined a microenterprise as a business with five or less employees, that requires $35,000 or less in start up capital, and that does not have access to the traditional commercial banking sector.
WHAT IS MICROENTERPRISE FINANCE?
Providing bank loans to small business entrepreneurs. So small that some loans are under $100.00.
HOW DOES IT WORK?
According to the AEO, Small business is the backbone of the U.S. economy, accounting for 53% of all jobs (Office of Advocacy, Small Business Administration.) Though often overlooked, the smallest of these firms, self- employed individuals and microenterprises employing fewer than ten workers, are playing an increasingly vital role. The U.S. Small Business Administration reports that while firms of five to five hundred employees in all industries experienced a net loss of 2,065,000 jobs from 1989-1991, firms with fewer than five employees experienced a net increase of 2,624,000 jobs. Diversity is the hallmark of microenterprise development in the United States. While the individuals and communities that need and benefit from microenterprise assistance are quite varied, most microenterprise development programs target their services to low-income people. Programs are tailored to meet the needs of specific target groups such as welfare recipients, minorities, women, the working poor, and individuals or business sectors that, for these and other reasons, lack access to credit. Some programs also target young people, refugees, homeless individuals and rural areas.
Want to learn more? Please click here for a complete description of the following related topics:
WHAT ARE MICROENTERPRISE DEVELOPMENT PROGRAMS?
WHAT'S AT ISSUE?
DO YOU QUALIFY?
WHAT ARE MFI’S?
THE NEXT STEPS?
SOURCES OF INFORMATION
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Dear Stephen,
I receive regular commentary from readers of my book "From Kitchen to Market." Almost all of them are very complimentary; however, today I received the following: "From Kitchen to Market is a somewhat dated and biased opinion on what it takes to have a successful specialty food company - it does not focus on direct to consumer in any positive way, instead focusing on the broker/wholesale/specialty food chain route. So if that is what you are looking for, then this book is for you."
What do you think is the writer's point?
You can help me with this by letting me know if you have succeeded in selling direct to the consumer. You may share your thoughts also on our Discussion Forum. Perhaps under the "Distributing Your Product" topic? Let me know because the forum is what we use to address exactly this type of issue.
Speaking of which, our DISCUSSION FORUM is alive and well. Just click here and make your statement or ask your question. Then let us know about your challenges and accomplishments in specialty food marketing.
Our Vision: Food Entrepreneur eZine (FE) is THE place for you to go for answers about food entrepreneurship. We will have guest advisors, key links, and experts in specialty food marketing with whom you can communicate your interests and concerns about your favorite topic.
In this issue:
1. Microenterprise Financing - All about how this funding concept works and how you can tap into it.
2. "Notes and Comment."
3. "Food Label News" - Click here for the latest in label news from Food Consulting Company's Karen Duster.
We invite and welcome your comments. Let's work together to learn ways of succeeding in specialty food marketing. Stay tuned.
Wishing you great profits!
Steve
Stephen F. Hall
Author, "From Kitchen to Market"
Editor, Food Entrepreneur eZine
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· NOTES AND COMMENT |
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Attention Southern California Food Entrepreneurs
Stephen Hall will be appearing on the Mothers' Day edition of the Wright Place TV Show. The show will air on 18 and 25 April and will be re-run in May. Look for it on Cable Channels. Click here to see Cable Channel Listings and show times.
We Need Information on Sous Vide Production
I am looking for information on equipment needs and opening a production facility. If you have this information or know of where we might find it, please let me know. Thank you. steve@specialtyfoodresource.com.
Coming Up in Future Issues of Food Entrepreneur Ezine:
- Features versus Benefits. "What's the difference?
- Do you really need a website?
- The ins and outs of liability insurance
- "Minority certified." What does this mean to you?
- Food Incubators - How they work.
Let us know what other areas we should address? |
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· FOOD LABEL NEWS |
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The latest in label news from Food Consulting Company's Karen Duster. Please see Link at Number 3, above. |
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· SPECIALTY FOOD RESOURCE AT YOUR FINGERTIPS |
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We have created an extensive list of associations, government agencies, and other resources to help you easily get the help you need. For example:
Go to the "Resource Center" below
- Click on the "Resource Tree" and
- Click on "Web Site Development and Directory, and
- Click on Ezine Univeristy.
eZine University has almost all you need to know to create your own online publications, such as an "eZine."
This is just one of hundreds of valuable leads available for you from the Specialty Food Resource. |
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Visit our free resource center |
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· CAUSE-RELATED MARKETING - WILL IT WORK FOR YOU? |
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A marketing strategy linking purchases of a product with fundraising for a worthwhile charity, project, or cause, cause related marketing creates a mutually profitable outcome for the business and charity. Cause marketing can be a highly effective method that contributes to building a positive image for the business while helping a charity gain much needed visibility.
For further discussion of cause-related marketing, including a listing of food manufacturers who are using it, click here<> |
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· The 4th Edition of From Kitchen to Market is Now Available! |
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“From Kitchen to Market is the best book about the U.S. specialty food field, and there is a great need you have so very well covered!" – Ted Koryn, U.S. specialty food industry pioneer.
"The only book of its kind that outlines every food marketing opportunity and then supports entrepreneurial action with detailed guidance."
TESTIMONIALS to this Specialty Food Marketing Guide:
Please click here to see additional testimonials.
Kaplan Publishing, 30 South Wacker Drive, Chicago, Illinois. 800/621-9621. www.kaplan.com
Discount price: $19.11 [Cover Price is $28.95]
Purchase at Amazon |
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· Build and Manage Your Own Website! |
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If you can create a word document, you have the skills to create and manage your own website.
Try the SnapMonkey 10 day free trial. If you like it, you can activate your website for just $49, and $29.95/month.
Give it a try |
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· NEW: A CHEESEMAKERS' NEWSLETTER |
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Want to know all about making cheese? Then, I invite you to visit cheesemaking.com.
Please click here.
Whether it's Chevre, Fromage Blanc, Creme Fresh or Fromagina, Cheesemaking "Moos Letter" covers it. Included are photos, "meet the cheesemaker" articles, and book reviews. |
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