MICROENTERPRISE MATTERS IN KENTUCKY!
Partners for Entrepreneurial Advancement in Kentucky (PEAK) is a statewide, nonprofit 501(c)(3) organization supporting economic development through the growth of microenterprise development agencies and microenterprises, especially those located in rural and economically challenged areas.
Many entities, such as microenterprise development programs, microenterprise advocates, and interested individuals, support this work by offering technical assistance, training, lending and other services crucial to micro-entrepreneurs.
PEAK's goal is to promote microenterprise growth and opportunity by increasing these entities' capacities and access to resources.
If you or your organization is interested in making a difference by supporting PEAK, please click here.
Definition and Facts about Microenterprise
A microenterprise is typically considered to be any small business with five or fewer employees and
requiring $35,000 or less in start-up capital.
Microenterprise employment represents almost 20% of all private employment in the United States.
More than 87% of all businesses in the U.S. are microenterprises.
There are an estimated 23,508,440 microenterprises in the entire U.S.
More than 4.5 million new jobs were created in the U.S. by microenterprises between 2000 and 2005.
There are approximately 309,739 microenterprises in Kentucky.
Microenterprise provides jobs to approximately 392,709 individuals in Kentucky, accounting for approximately 16.5% of Kentucky's total private non-farm employment.