HP is leading the way through microenterprise development.
(NewsUSA) - As many entrepreneurs in America know, starting up a small business and finding long-term success can be an incredibly difficult task. According to the “Monthly Labor Review,” only 44 percent of small businesses survive more than four years -; leaving 56 percent that may have the drive to excel but just can’t make ends meet.
Small businesses are very important to America’s working economy, however. The “Monthly Labor Review” also reported that small businesses employ half of all private-sector employees and generate 60 to 80 percent of net new jobs annually. Because one of the big reasons that small businesses become successful is an ample supply of capital, more big businesses are realizing that investing in microenterprises -; businesses that have five or fewer employees and seed capital of $35,000 or less -; not only improves the chance of hard-working businesses reaching their own goals, but it also improves the country’s overall economic growth.
Larger corporations like HP, itself a garage start-up nearly 70 years ago, recognize the important role these businesses play in the economy and the community. And HP recently awarded more than $5 million in cash, equipment and training resources to non-profit organizations serving small businesses in underserved communities across the globe.
The Microenterprise Development Grants provide start-up assistance, business training, access to capital and advice to entrepreneurs and very small businesses in underserved communities. The awards are focused on providing technology access for entrepreneurs and training for microentrepreneurs in the use of technology to build and grow their businesses.
In the United States, the HP Microenterprise Development Grants are worth $56,000 and include office items such as HP wireless notebook computers, printers, digital cameras, digital projectors and $20,000 in cash to be used toward the purchase of relevant software, equipment configuration and other expenses. Recipient organizations also receive the HP-sponsored small business technology training curriculum, “Smart Technology for a Smarter Business,” and are included in a learning community of HP Microenterprise Development Program grant recipients, facilitated by the Association for Enterprise Opportunity (AEO).
“HP is improving economic viability and quality of life for individuals and communities around the world through investments of HP resources and technology,” said Yvonne Hunt, vice president of Global Philanthropy for HP. “These grants represent one channel for us to support economic development to accelerate entrepreneurial growth and success.”
With the efficiency and effectiveness of microenterprises improving daily with help from big business, entrepreneurs can start making their small business dreams a reality. For more information, visit http://www.hp.com/hpinfo/grants/us/programs/microenterprise/recipients.html.
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