For release on September 14, 2005

Catherine Marshall
California Association for
Microenterprise Opportunity
(CAMEO)
TEL: 510-238-8360
CELL: 925-895-4026
cmarshall@microbiz.org
www.microbiz.org

Christina Kerby
Office of Assembly Member Yee
TEL: 415-557-2312
christina.kerby@asm.ca.gov

California Legislature Passes Resolution Declaring October 2005 Microenterprise Development Month

San Francisco—Speaker pro Tem Leland Yee, Assembly Member for the 12 th District in San Francisco, authored ACR 76, a Resolution designating October 2005 as Microenterprise Development Month in California. This resolution highlights the importance of microenterprises and microenterprise development to the California economy. This Resolution garnered exceptional support with seventy-four out of eighty Assembly Members signing as co-authors. To view the Resolution language, please visit http://www.microbiz.org/html/resolution_language.htm.

Microenterprises, small businesses with fewer than five employees, comprise 88% of all California businesses. These small shops, restaurants, home based businesses, and contractors also create 17% of California’s jobs. Microenterprise development, the process of providing business management training, counseling, business plan development and microloans is essential to help these businesses start right, expand and prosper. “Microenterprises truly are the backbone of California’s economy,” said Speaker pro Tem Leland Yee. “I am delighted to join CAMEO in celebrating Microenterprise Development Month in California. By supporting microenterprise development, we are ensuring the economic future of our state,” Yee added.

“We are grateful that Assembly Member Yee and the Assembly chose to recognize the importance of microenterprise development in this way. Every community needs microenterprise development for all small businesses at any stage of development.” says Catherine Marshall, CEO of the California Association for Microenterprise Opportunity (CAMEO).

The benefits to communities with successful microenterprises include an improvement in downtown districts with vibrant retail and restaurants, increased availability of new jobs, locally developed services and products, tax revenues, and reduced public assistance costs. ACR 76 recognizes the importance of microenterprise development, training, business counseling, and accessible credit as key to the success of microentrepreneurs. California communities can stimulate the growth and success of entrepreneurship by fostering microenterprise development.

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What is CAMEO? California Association for Microenterprise Opportunity (CAMEO) is a statewide association of microenterprise programs and supporters providing business training, technical assistance, microloans and other services to low and moderate-income individuals.

What is a Microenterprise? A microenterprise is a business with five or fewer employees, which requires $35,000 or less in start-up capital and which does not have access to the traditional commercial banking sector.

What is Microenterprise Development? Microenterprise development is a process of providing services such as training and technical assistance to new, prospective, and experienced small business owners. Microenterprise development reduces the risk associated with launching and growing a small business and greatly increases a microentrepreneur’s chances of success.