Published: 2015-07-08
Key Benefits:
(a) For purposes of this part, “microenterprise” means a sole proprietorship, partnership, limited liability company, or corporation that meets both of the following requirements:
(1) Has five or fewer employees, including the owner, who may be part time or full time.
(2) Generally lacks sufficient access to loans, equity, or other financial capital.
(b) For purposes of this part, “microenterprise development provider” means a nonprofit organization or public agency that provides self-employment training, technical assistance, and access to microloans to individuals seeking to become self-employed or to a microenterprise seeking to expand its current business.
(Amended by Stats. 2014, Ch. 101, Sec. 1. Effective January 1, 2015.)
(a) Every city, county, and city and county is encouraged to access microenterprise development in order to create new jobs and income opportunities for individuals of low and moderate income.
(b) Every city, county, and city and county is encouraged to include microenterprise development as a part of their economic development strategy.
(c) California communities and the public agencies that serve them, such as workforce investment boards, community colleges, and local economic development agencies, are encouraged to promote local partnerships that invest in microenterprise development.
(Added by Stats. 2004, Ch. 87, Sec. 2. Effective January 1, 2005.)