Virginia Enterprise Initiative Workshops

The Virginia Enterprise Initiative (VEI) will hold informational workshops highlighting partnership and funding opportunities that can extend training, technical assistance, and capital to Virginia’s next wave of very small and emerging businesses.

VEI, Virginia’s micro-enterprise initiative, provides financial resources to nonprofit organizations that specialize in the delivery of training, support, technical assistance, and loans to for-profit businesses that employ five or fewer people. These individual entrepreneurs often lack access to business training or traditional credit.  Many of these entrepreneurs are minority, female, and/or low-income Virginians.  The ultimate goal of the program is to build the community entrepreneurial economic base by providing resources for individuals to become economically independent.

An often overlooked economic force, micro-businesses comprise well over 80% of all businesses in Virginia.  The “unexpected entrepreneur” exists in all corners of the state and VEI strives to reach each one.

Nonprofit organizations, local governments, economic development professionals and community members working to support micro-enterprises in their area are invited to attend.  To register for one of the following workshops, contact Doug Jackson at douglas.jackson@dhcd.virginia.gov or (276) 780-3244.

Manassas: October 28, 2010, 1-3 p.m.
Hosted by ECDC Enterprise Development Group
Manassas City Hall, Room 204
9027 Center St.

 Newport News: November 3, 2010, 12:30-2:30 p.m.
Hosted by ECDC Enterprise Development Group
Downing-Gross Cultural Arts Center, L. Marian Poe Room
2410 Wickham Ave.

Abingdon: November 9, 2010, 10 a.m.-Noon
Hosted by People, Inc.
Virginia Highlands Small Business Incubator
851 French Moore, Jr. Blvd.

South Boston: November 15, 2010, 10 a.m-Noon
Hosted by New Visions, New Ventures
The Prizery
700 Bruce St.

Staunton to host Virginia Microenterprise Network conference

On September 30 and October 1,  the designated Virginia Main Street community of Staunton will host the annual Virginia Microenterprise Network  conference. This year’s  theme is Revitalizing Neighborhoods through Entrepreneurship.

The program includes a look at entrepreneurship in the Queen City;  the role of craft,  green building, and farm-based strategies in revitalization; identifying and supporting emerging neighborhood entrepreneurs; and guided insider tours of the community.

The day and a half conference will be a terrific follow-up for those who attended the Virginia Main Street Toolkit, Cultivating an Entrepreneurial Downtown. Use it as an opportunity to connect with micro-enterprise specialists as we put our heads together in exploring best practices in asset based community development and revitalization. 

The conference ends on a Friday afternoon–great timing to stay and shop, enjoy a show at the Blackfriars Playhouse and dine one of the historic district’s many restaurants.

For the full program and registration visit: www.vamicro.org.

Micro-loans a resource for downtown entrepreneurs

A recent New York Times article, “With Credit Tight Microlending Blossoms,” highlights the nation’s growing micro-enterprise resources. Long popular as an anti-poverty strategy in developing countries and gaining a foothold here over the past two decades, micro-loans are providing more access to entrepreneurs now squeezed out of traditional credit markets.

Kiva, an international micro-lender founded in 2005, connects individuals like you and me who want to loan their money with people around the world who are creating their own businesses. Kiva has just started a program for the U.S., so that entrepreneur you choose to invest in might soon be just around the corner.

There are other micro-loan resources as well, already up and running in Virginia. Virginia Enterprise Initiative partners are working to connect businesses with five and fewer employees with technical assistance, training, and loans of up to $50,000. 

VEI Regional Service Providers:
People, Inc., Abingdon
New Visions, New Ventures, Richmond
ECDC Enterprise Development Group, Arlington

Learn more about specific micro-enterprise programs and loan availability through the VEI Regional Service Providers, or contact Jeff Sadler for more information on taking advantage of this resource in your district.