Please select a question from the list below to see an answer: 1. What is a microenterprise? 2. What is a microentrepreneur? 3. Why support microenterprise? 4. How do I start a new business? 5. Can I get grant money to start a business? 6. Is there a place to get information about business licenses without wasting a lot of time and effort? 7. How does an organization learn how to start a microenterprise program? 8. Am I limited to a certain type of microbusiness? Answers: 1. What is a microenterprise? It is a business that employs five or fewer people, has an inadequate capacity to access traditional business services and a capitalization need of $25,000 or less. Many microenterprises are sole proprietorships, creating employment for the owner and, often, family members. However, there are also microenterprises that grow into larger businesses that employ other community members. 2. What is a microentrepreneur? Microenterprise development programs generally focus on underserved populations, which have difficulty accessing business development services or credit through traditional institutions. In Maryland, microentrepreneurs cut across all demographic lines-from men to women, from low to middle income, from very young to middle-aged, from the downsized worker to the disabled, from urban to rural. Microentrepreneurs choose a wide range of businesses-ones that fit their interests, abilities and niches in local economies. From fly-fishing guide services in rural Western Maryland to food catering services in Baltimore City to artists and desktop publishing entrepreneurs on the Eastern Shore, microenterprise works! 3. Why support microenterprise? Microenterprise is a component of both economic and community development strategies. Increasing jobs and tax bases, microenterprises also foster stronger communities by revitalizing downtown areas, enhancing rural economies and increasing civic capacity. When plants close or corporations downsize, many dislocated workers can turn to microenterprise development to create their own jobs or supplement their incomes rather than face unemployment and welfare; Most banks can not make a profit on loans under $25,000, so many hard-working entrepreneurs with good ideas have no one to help them start a business-unless there's a microenterprise development provider nearby. People who need flexible schedules, especially stay-at-home parents, can remain in the work force by running their own microbusinesses; and People generally excel at what they love to do, and productive citizens make for stronger communities. Microenterprise development allows people to achieve their dreams. 4. How do I start a new business? First, you need to have an idea about what you want to do. With your idea, you need technical assistance to figure out the next steps. Click here to get a listing of the microenterprise development organizations and resources in your area to help you with business training, loans or technical assistance, and other support services. 5. Can I get grant money to start a business? Service providers working with MCM provide loans to eligible participants. Organizations differ in the maximum amounts you can borrow, collateral, interest rates and term of the loan. These organizations do not provide grant monies for business start-ups. 6. Is there a place to get information about business licenses without wasting a lot of time and effort? Yes. The Business License Information System (BLIS) is an internet-based system to help new and existing businesses find out which state licenses and permits are needed to operate legally in Maryland. 7. How does an organization learn how to start a microenterprise program? MCM has tools to help. The first is our Community Partnership Asset Mapping Activity. Using a workbook, MCM can help your organization identify and connect the dots for establishing partners or services. MCM will be starting a Microenterprise Training Academy in 2003. This Academy will train and provide a certificate of completion for microenterprise development. Interested? E-mail info@emicromaryland.com. 8. Am I limited to a certain type of microbusiness? Only the size is limited. Microbusinesses have no more than 5 employees, including the owner. Common microbusinesses are tailors, car repair shops, dry cleaners, daycare providers, arts & crafts, computer technology, catering, sewing, fishing charters, and much more.