Resolution 020746

..Title Calling on the Philadelphia Commerce Department to conduct a needs assessment related to microenterprise development and neighborhood self-employment in the City of Philadelphia, develop a comprehensive strategy, and issue a report of findings and recommendations to City Council's Committee on Commerce and Economic Development. ..Body WHEREAS, The United States Small Business Administration estimates that 13 percent of nonagricultural workers are self employed; and WHEREAS, Philadelphia statistics indicate that an estimated 78,000 Philadelphians between the ages of 19 and 70 are engaged in microenterprise; and WHEREAS, Such microenterpreneurs, according to a United States Agency for International Development-funded study, face multiple barriers to securing the capital required to grow their businesses; and WHEREAS, The aforementioned study has determined that innovative financial methodologies must be developed in order to better serve microentrepreneurs; and WHEREAS, Until such strategies are developed, there will be an insufficient number of non-traditional loan products available to meet the needs of microentreprenuers; and WHEREAS, The Commerce Department is best positioned to measure the local growth, and subsequent needs, of this vital segment of Philadelphia's economy; now therefore RESOLVED, THAT THE COUNCIL OF THE CITY OF PHILADELPHIA, Calls upon the Philadelphia Commerce Department to conduct a needs assessment related to microenterprise development and neighborhood self-employment in the City of Philadelphia, develop a comprehensive strategy, and issue a report of findings and recommendations to City Council's Committee on Commerce and Economic Development. ..End