With a declining dollar, a burgeoning subprime crisis, and a shrinking job market, many Californians are worried about their personal fiscal future. In the face of a slowing economy, what can be done to alleviate the economic strain to create jobs and help businesses to expand?
For many Californians, the answer is starting their own business. Microenterprises, small businesses with fewer than five employees, currently comprise 88% of all California businesses. These small shops, restaurants, home based businesses and contractors also create 19% of California's jobs. Microenterprise development, the process of providing business management training, counseling, business plan development and microloans, helps these businesses open, expand, and prosper.