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Microenterprise Development in the United States: Current Challenges and New Directions

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  • Lisa J. Servon

    (New School University)

Abstract

U.S. microenterprise programs provide business training, small amounts of credit ($35,000 or less), or both to businesses with five or fewer employees. As the microenterprise field nears the end of its second decade in the United States, experts and practitioners agree that the field is in a difficult place; there appears to be relatively widespread agreement on the nature of the problems, which include a lack of standardized data, decreasing funding from some key sectors, increased competition, and difficulty in reaching the target market. The author argues that if the microenterprise field does not make some significant changes, it will neither sustain itself nor approach its potential. Strategies to address these challenges fall into three broad categories: restructuring, innovation, and accreditation and standardization.

Suggested Citation

  • Lisa J. Servon, 2006. "Microenterprise Development in the United States: Current Challenges and New Directions," Economic Development Quarterly, , vol. 20(4), pages 351-367, November.
    • Handle: RePEc:sae:ecdequ:v:20:y:2006:i:4:p:351-367
    DOI: 10.1177/0891242406289355
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    References listed on IDEAS

    as
    1. Timothy Bates & Lisa Servon, 1998. "Microenterprise As An Exit Route From Poverty:* Recommendations For Programs And Policy Makers," Working Papers 98-17, Center for Economic Studies, U.S. Census Bureau.
    2. Timothy Bates, 1995. "Why do Minority Business Development Programs Generate so Little Minority Business Development?," Economic Development Quarterly, , vol. 9(1), pages 3-14, February.
    3. Gregg A. Lichtenstein & Thomas S. Lyons, 2001. "The Entrepreneurial Development System: Transforming Business Talent and Community Economies," Economic Development Quarterly, , vol. 15(1), pages 3-20, February.
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    Cited by:

    1. Al-Jarhi, Mabid, 2010. "Reviving the Ethics of Islamic Finance," MPRA Paper 66732, University Library of Munich, Germany, revised 2011.
    2. J. G. Sri Ranjith, 2015. "The Effect of Microenterprises on Poverty: A Cross-county Analysis on US Urban Poverty," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 3(3), pages 128-150, March.
    3. Dr. J. G. Sri Ranjith & Dr. O. G Dayaratna Banda, 2014. "Determinants of Success of Small Business: A Survey-Based Study in Kuliyapitiya Divisional Secretariat of Sri Lanka," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 4(6), pages 38-50, June.

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