A Wise Investment in Business
Release Date:
12/22/2008By:
Brian Depew, briand@cfra.org, Center for Rural AffairsIn 2009, the Nebraska Unicameral has an opportunity to continue support for establishing and creating small businesses all across the state.
The Nebraska Microenterprise Development Act provides funds for small business loans, training and technical assistance. These funds, administered by the Nebraska Enterprise Fund, provide vitally needed money to support Main Street businesses in Nebraska's rural communities and urban neighborhoods.
Since creation of the Nebraska Microenterprise Development Act in 1997, over 19,000 businesses and individuals in every Nebraska County have received loans and/or technical assistance as a result of its funding.
Many rural communities have self-employment and small business ownership rates many times greater than urban areas. Small businesses are also the job creators in much of rural America.
In Nebraska, 86 percent of private, non-farm businesses are small businesses with five or fewer employees. Nearly one in five private, non-farm jobs in rural Nebraska are in these small businesses.
Microenterprises and small businesses are a major part of Nebraska's economy. And in a time of economic hardships, it is a wise investment to provide opportunity and economic growth to businesses that create new jobs and innovation in rural communities.
Investing in the small businesses across the state revitalizes Main Streets and builds communities.
In the last budget, Nebraska Senators wisely dedicated $1.5 million to support the Nebraska Microenterprise Development Act. They should maintain the same level of funding for the program even in these tight economic times.
Since creation of the Nebraska Microenterprise Development Act in 1997, over 19,000 businesses and individuals in every Nebraska County have received loans and/or technical assistance as a result of its funding.
Many rural communities have self-employment and small business ownership rates many times greater than urban areas. Small businesses are also the job creators in much of rural America.
In Nebraska, 86 percent of private, non-farm businesses are small businesses with five or fewer employees. Nearly one in five private, non-farm jobs in rural Nebraska are in these small businesses.
Microenterprises and small businesses are a major part of Nebraska's economy. And in a time of economic hardships, it is a wise investment to provide opportunity and economic growth to businesses that create new jobs and innovation in rural communities.
Investing in the small businesses across the state revitalizes Main Streets and builds communities.
In the last budget, Nebraska Senators wisely dedicated $1.5 million to support the Nebraska Microenterprise Development Act. They should maintain the same level of funding for the program even in these tight economic times.
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