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The survey found that more than half (51.6 percent) of all businesses that responded to the 2007 Survey of Business Owners (SBO) were operated primarily from someone’s home in 2007. In addition, only 6.9 percent of these home-based businesses had $250,000 or more in receipts, while 57.1 percent of home-based businesses brought in less than $25,000. About 23.8 percent of employer respondent businesses and 62.9 percent of nonemployer respondent businesses were home-based. “Most businesses are started by people who dig into their own pockets for at least some of their start-up capital,” said Census Bureau Deputy Director Thomas Mesenbourg. “This is true for both firms with employees and those without them. Furthermore, more than one in five (20.8 percent) of respondent businesses used no start-up capital at all.”       

George Washington University’s Center for International Business Education and Research (CIBER) will provide research expertise and also evaluate the initial phase of business proposals. Proposals, to be submitted by February 3, 2012, will be implemented in the following participating countries including Angola, Benin, Cote D’Ivoire, DRC, Ethiopia, Ghana, Kenya, Liberia, Mali, Mozambique, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Tanzania, Uganda and Zambia. The number of grants awarded will be determined based on grant pool and program need, and is likely to be in the range of 15 to 30 businesses. The matching grant size is expected to be up to US $50,000, with an additional supplement of US $25,000-$50,000 in technical assistance.

Do we need a small funds agency for Africans in the diaspora who want to build businesses in Africa?