Reimagining Technical Assistance
Shifting the Support Landscape for Main Street
Microbusinesses grow and hire when they get the right mix of capital and support. AEO research found a 30% difference in average annual revenue growth for a sample of businesses that received funding and support compared to their peers that did not.
Yet, there is no system to support Main Street businesses, especially those in low-wealth communities. Providing business owners and aspiring entrepreneurs the right mix of resources and support systems can increase employment by microbusinesses in low-wealth communities by well-over 10 percent.
With generous support from Capital One, AEO conducted an 18-month study to understand opportunities to improve the support landscape for microbusinesses in low-wealth communities so that they can grow and hire. Findings from our May 2016 report, Reimagining Technical Assistance: Shifting the Support Landscape for Main Street, helped us to discover what business owners really need
In response to these findings, AEO is recruiting cohorts of participants, mobilizing resources and establishing infrastructure to pilot and test new ways of delivering technical assistance.
To get started, we’re piloting new products and services. The first of our pilots is a partnership with Bench, a leading online bookkeeping service, to offer 50 small businesses free bookkeeping services for six months.
To learn more about this pilot and opportunity for small businesses, click here.
To learn more about how we’re reimagining technical assistance, email email@example.com to speak with a member of the team.
February 12, 2019
With the Shutdown Looming Again, Lawmakers Should Remember Microbusinesses are Resilient, not Unbreakable
A recent CNBC article detailed how many small businesses that were adversely affected by the shutdown are struggling to move on.