Background
In 2006, the Federal Reserve Bank of St. Louis, Louisville Branch, hosted a workshop given by representatives of the Association for Enterprise Opportunity (AEO) on microenterprise development organizations, their roles in other states, and their impact.
As a result of the workshop, participants representing a number of economic development entities in Kentucky expressed a desire to establish such a statewide organization.
A survey was developed and distributed to discover the widespread appeal and interest in forming a microenterprise development organization.
The results of the survey indicated that many economic development entities were in favor of its formation and so, after an extensive strategic planning process, Partners for Entrepreneurial Advancement in Kentucky (PEAK) was established in July 2008.
Founding organizations include:
The Kentucky Cabinet for Economic Development
The Federal Reserve Bank of St. Louis, Louisville Branch
The Kentucky District Office of the U.S. Small Business Administration
The Kentucky Small Business Development Center
Mountain Association for Community Economic Development (MACED)
Community Ventures Corporation
Kentucky Highlands Investment Corporation
Commerce Lexington
The Jewish Family and Vocational Service of Louisville
PEAK supports microenterprise development and those organizations that encourage microenterprise development by:
Advocating on behalf of and acting as a unifying voice for microenterprise development organizations
Providing educational and networking opportunities
Providing opportunities for best practice and information sharing
Encouraging the development of programs and opportunities that can grow and expand organization's capacities, especially in underserved parts
of the state
Mission Statement
To promote growth, opportunities, and access to resources for organizations that support and encourage microenterprise development in Kentucky.
Core Beliefs
Microenterprises matter in the economic life of Kentucky.
Providing lending and technical assistance services to a microenterprise can positively change lives.
Entrepreneurial ideas have the potential to be great business ideas when the resources necessary for success work together in support of the microenterprise.
There is value in centralizing access to information and resources related to microenterprise development.
We are the bridge linking service providers and supporters to each other as well as to microenterprises.