What has not been known, until now, is whether those jobs are any good? Based on the seminal study published by the FIELD/aspen institute which used in-depth interviews of the employees of Accion East microbusinesses, the resounding answer to the question is ‘yes’!
In summary, the report highlights that 1) employment by microbusinesses offers greater ‘human capital’ development for employees than their employment alternatives; and 2) given that they not only create jobs, but create GOOD jobs, the microenterprise industry is a cost effective tool for economic development (with 300%+ return on programmatic investment, using wages and employer draws as key measure of return).
We all know that it’s not enough to be merely be alive; we all want to ‘live’.
Similarly, it’s not enough to just ‘get paid’; we all desire real ‘employment opportunities’, which makes the qualitative aspects of employment as important as the quantitative ones.
Accion East is proud to have partnered with FIELD/The Aspen Institute on this landmark study and we hope this pushes the national discussion of job creation by microbusinesses for low-to-moderate income communities from one of addressing economic subsistence, to one of achieving self-actualization for millions of workers.
Yours in the mission,