Small businesses would be a primary component of economic growth over the coming decades. MetroFuture would ensure that small business owners will have sufficient access to capital, technical assistance, and other resources necessary to start and expand their locally-based enterprises. As a result, job growth and economic productivity from small businesses will grow faster than the economy overall.

In 2004, there were 94,000 micro businesses (<4 employees) in Massachusetts and 424,000 sole proprietors, defined as business owners who work alone. Statewide, micro-businesses and sole proprietors together comprise 86% of all business establishments; employ 30% of non-government workers; and were responsible for 30% of net new jobs from 1994 – 2004. Some of these businesses may grow to employ more people; others will remain small and successful through partnerships with other small businesses, rather than through growth.

Objectives:

• Employment in micro-businesses and sole proprietorships will grow at a faster rate than overall regional employment.