Why Microbusiness Development?
Since 2004, Rising Tide Capital has witnessed the power of microbusinesses. Whether part time or full time, the businesses which our entrepreneurs have started are changing lives. At first, their businesses represent the ability to meet their families’ basic needs—food, clothing, and shelter. Later on, money from a home business might represent the opportunity for social mobility through investments in a home or education. For some of our entrepreneurs who are further along in their journeys, their businesses represent financial independence, and the opportunity to influence not just their own lives, but their actual communities.
While microbusinesses employ only 5 or less people, they literally sustain our economy. According to the Association for Enterprise Opportunity, there are 25.5 million microbusinesses in the United States. They employ 31 million people and represent 90 percent of all businesses in the United States.
Microbusinesses are the engine of our local economies and represent our best hope for a healthy national economy. If all U.S. microbusinesses increased their annual revenue by just $5,000 a year—less than $500 a month—more than $20 billion would be generated.
Microloans—and more importantly the business education and guidance on how to successfully use these loans—have the potential to revitalize our communities. On a local level, a strong microbusiness community means more tax revenue, more jobs, and more dollars circulating in the local economy. It means stronger educational institutions, better local healthcare, more recreational services and generally, a higher quality of life.
Whether on an individual, local, or national level, the impact of sustainable microbusinesses is real. Rising Tide Capital believes that by reaching individuals who have not been exposed to the types of programs we offer, we can empower them to create their own opportunities.
Click here to learn more about our approach.