Challenges to Opportunity: Micro Sector Thinks Like An Entrepreneur
At CAMEO, we are thinking like an entrepreneur, turning challenges into opportunities. The 15,000 clients our members served in 2013 were 11,000 fewer clients than in 2010. This reflects the sector’s 40% loss of funding. Microlending increased by 28% with 2,046 microloans, but we are reaching only 0.28% of the estimated demand of LMI businesses.
The real opportunity for our sector is the trend towards self-employment, which grew 7% between 2013 and 2014. CAMEO met this challenge through our Market Makers initiative – reaching specialty food producers, women veterans, and Etsy artisans – that brings these businesses, often hidden in plain sight, to our members for business assistance.
-from the 2014 Annual Report.