Many entrepreneurs in America know that starting a small business can be difficult and finding long-term success. According to the “Monthly Labor Review,”Only 44% of small businesses survive for more than four year – leaving the remaining 56 percent who have the drive but are unable to make ends meet.
The working economy of America is dependent on small businesses. The “Monthly Labor Review”It was also reported that half of private sector employees are employed by small businesses and create 60 to 80 percent of new jobs each year. Since capital is a key factor in small business success, larger companies are beginning to realize that microenterprises (businesses with five or fewer employees and seed capital less than $35,000) not only increase the likelihood of their hard work being recognized, but also boost the country’s overall economic growth.
Even though HP was founded almost 70 years ago as a garage business, larger corporations such as HP recognize the importance of these businesses in the local economy. HP awarded over $5 million in cash and equipment to support small businesses in underserved areas around the world.
The Microenterprise Development Grants offer assistance to start-ups, capital, training, and advice for entrepreneurs as well as very small businesses located in underserved areas. These awards provide technology access to entrepreneurs and training for microentrepreneurs on how to use technology to grow and build their businesses.
The HP Microenterprise Development Grants in the United States are valued at $56,000. It includes office items such HP wireless notebook computers, printers and digital cameras. There is also $20,000 cash available to purchase relevant software and equipment configuration. Receiving organizations will also be eligible for the HP-sponsored small business tech training curriculum. “Smart Technology for a Smarter Business,”They are part of a learning community made up grant recipients from HP Microenterprise Development Program. Facilitated by the Association for Enterprise Opportunity (AEO),
“HP is improving economic viability and quality of life for individuals and communities around the world through investments of HP resources and technology,”Yvonne Hunt was vice president of Global Philanthropy for HP. “These grants represent one channel for us to support economic development to accelerate entrepreneurial growth and success.”
Entrepreneurs can now make their small business dreams a reality by improving the efficiency and effectiveness microenterprises. You can find more information at http://www.hp.com/hpinfo/grants/us/programs/microenterprise/recipients.html.
