Starting a business can be an exciting, but it can also be challenging. To succeed, you will need the right tools.
For over two decades, Miami Valley Community Action Partnership (MVCAP) has offered the Micro-Enterprise Business Development and Training Program to help individuals interested in starting and maintaining their own business take the necessary first step. In partnership with Montgomery County, MVCAP also provides funding for small businesses in need of financial assistance for growth.
The US Census Bureau estimates that 92% of small businesses are microenterprises. A microenterprise is a business operating on a small scale, often with a sole proprietor and fewer than ten employees. Microenterprises are often started with a small amount of capital from the owner’s savings, contributions from friends and family, or a small bank loan.
According to data from the U.S. Bureau of Labor Statistics, about 20% of U.S. small businesses fail within the first year. When microenterprises fail, the investment is lost. For many, a small business failure can make a bad situation worse.
One of the most common reasons for business failure is a lack of planning. The Micro-Enterprise Business Development and Training Program is a 10-week business development course offered in Montgomery County and gives prospective business owners all the tools necessary to start their business successfully. Students learn about key business functions and the main components of a formal business plan. By thinking through business scenarios, students identify and plan for the many pitfalls that can lead to business failure. The course also focuses on the managerial skills needed to grow and maintain their enterprise. Course topics include managing business records, financing your business, managing cash flow, pricing your products/services, and more.
“Over the years, our professionals have helped hundreds [of individuals] understand what it takes to start and run a small business,” says LaSandra James, Director of Micro-Enterprise and Computer Learning for Miami Valley Community Action Partnership of the Greater Dayton Area. “We look forward to returning to in-person classes in the future. Our small classes provide plenty of individualized learning and encouragement, but when in-person, the group tends to bond and form lasting business relationships. Having a network of people that are going through the same business challenges can make a difference in your ability to persevere and stay focused.”
“The goals of the Micro-Enterprise Business Development and Training Program are to provide motivated and committed entrepreneurs the opportunity to receive business training and obtain needed start-up capital and technical assistance,” adds Wright.
“The course gives a firm grasp on the requirements to start and run a business successfully. MVCAP’s Micro-Enterprise training is a vital component that fills a void for so many disadvantaged individuals in the community. The class has allowed dreamers to pursue lifetime goals. Some students were at first reluctant, but most have gained the courage and the means to confront their fears and take the necessary step forward in changing their lives and possibly sustain a position of self-sufficiency in the community,” says RoShawn Winburn, Instructor for the Micro-Enterprise Business Development and Training course. To reserve your spot in the next ten-week session, complete the required, pre-registration online at https://mcmicro.eventbrite.com. The next class starts Thursday, April 15, and all classes will be conducted online, from 6:00 -7:30 p.m. each Thursday. For more information, please contact Caroline Christian at 937-341-5000 x172.
Miami Valley Community Action Partnership is a 501(c)3 private, nonprofit Community Action Agency, committed to eliminating the causes and conditions of poverty and promoting self-sufficiency by providing programs and services in the Miami Valley.
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