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AEO Communications
Association for Enterprise Opportunity (AEO)
AEO Launches New Research Initiative to Enhance Worker Well-Being through Microbusiness
Washington, D.C., October 21, 2024 – The Association for Enterprise Opportunity (AEO) is proud to announce the launch of a pioneering research initiative focused on enhancing worker well-being and economic mobility within the microbusiness sector. Supported by WorkRise, a research-to-action network hosted by the Urban Institute, this project seeks to identify and promote employer practices that can elevate the livelihoods of workers in microbusinesses across the United States.
Microbusinesses—those with fewer than 10 employees—are indispensable to the U.S. economy, collectively employing more people than any single industry. However, these small enterprises often encounter significant obstacles in adopting practices that foster both business success and worker well-being.
“Microbusinesses are powerful engines of job growth and economic opportunity, especially in underserved communities across the U.S.,” said Natalie Madeira Cofield, President and CEO of AEO. “Through this research, we aim to uncover effective strategies and actionable solutions that can help microbusinesses thrive while improving the lives of their workers.”
Despite their critical role in the economy, microbusinesses have historically been overlooked in large-scale research on employer practices, resulting in significant gaps in understanding and support. This project seeks to address these gaps through a comprehensive data collection effort, including original surveys of microbusiness owners and their employees.
Furthermore, by engaging Community Development Financial Institutions (CDFIs) and experts as part of an advisory council, this research will ensure that its findings are not only robust but also practical and actionable for those on the front lines of supporting these businesses. The study will go beyond documenting current employer practices, offering deep insights into the experiences of business owners and workers in underserved communities and laying the groundwork for more effective, equitable solutions.
“AEO’s research on microbusinesses is exactly the kind of actionable, solution-oriented evidence we know decision-makers need,” said Todd Greene, Executive Director of WorkRise. “We anticipate this work leading to substantial positive changes for both frontline workers and our smallest employers—two groups for whom support is keenly needed.”
“We are honored to collaborate with WorkRise on this critical endeavor,” added Dr. Lori Diane Smith, Senior Research Advisor at AEO. “Our objective is to thoroughly understand existing employer practices and to equip microbusinesses with the resources they need to create quality jobs and foster thriving local economies.”
About the Association for Enterprise Opportunity (AEO):
The Association for Enterprise Opportunity (AEO) is the leading voice of innovation in microbusiness and microfinance in the United States. AEO and its more than 1,700 member organizations are dedicated to empowering underserved entrepreneurs and enhancing economic opportunity for all. Since its founding, AEO has worked to create a robust ecosystem of support for micro-businesses, driving economic growth and equity across the nation. Click here for more information.
About WorkRise:
WorkRise is a research-to-action network for jobs, workers, and mobility hosted by the Urban Institute. WorkRise is dedicated to advancing economic mobility and shared prosperity for workers in the United States, with a focus on those facing systemic barriers to economic advancement.