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a December 8,2010 Bill#86-10 is filed with the Office of the City Clerk—sponsored by <br /> Council Mcmbers Tim Rouse,Derek Dieter,Karen White and Henry Davis,Jr. Can <br /> December 13,2010,Bill#86-10 received a first reading and was referred to the Community <br /> Economic Development Committee for review and recommendation and set for second and <br /> third readings on January 10,2011. <br /> a April 23,2011 Bill#86-10 was passed unanimously and became law as 10081-11. <br /> Excmdm <br /> South Bend's changing econorny,moving from an industrial manufacturing base to primarily a <br /> service economy,resulted in a growing number of socially and economically disadvantaged <br /> individuals who lacked the skills and training to move into service industry jobs being left behind. <br /> Many were forced to accept lower paying jobs to help augment the limited social services available <br /> to help them subsist.A frequent response to unemployment and dislocation of workers is for these <br /> individuals to attempt to start their own business. Black and Hispanic/Latino Americans are the <br /> primary constituents of this challenged group within South Bend. <br /> Many minorities simply desire the opportunity to participate in the free enterprise system,to develop <br /> their business ideas, to be their own bosses,and to attempt to succeed in a society that they perceive <br /> to be biased. Numerous obstacles have prevented more minority owned companies from being <br /> created and becoming successful. Although most minorities have gone into business to obtain <br /> financial security,they often lack the tools,capital and informational resources needed to meet their <br /> goals. Most are less prepared,with less capacity and are overall less competitive. They lack access to <br /> opportunity,access to technical assistance and access to capital. Today's competitive business <br /> environment demands suppliers have size,scale and reach. There are still very few minority firms in <br /> South Bend that have this combination of characteristics. Mist are categorized as rnicroenterprises. <br /> A microenterprise is a small business that will usually operate with fewer than 10 people and is <br /> started with a small amount of capital.Most a a aicroenterprises specialize in providing goods or <br /> services for their local areas.There are an estimated two million micro-entrepreneurs in the United <br /> States today,offering a variety of services and products from home-based day or elder care,auto <br /> repair,beauty and barber shops to specialty foods. <br /> In their June 2010 Bencltmarking South Bend report,Karl King and John Roos state that <br /> Entrepreneur.corn"2006 Hot Cities for Entrepreneurs"ranks South Bend among the lowest <br /> Indiana cities compared to all the Indiana Benchmark Metro's and all of the National Benchmark <br /> Metro's in all the categories. Those categories include: Overall Entrepreneurial Activity Rank, <br /> Young Company Rank,Rapid Growth Rank,annual rate of business startups,annual rate of <br /> business closings,business churn rate,and entrepreneurial value added to the community. While <br /> King and Roos did not include makings related to minority businesses in their report,additional <br /> 5 <br /> This proposal was compiled and created by Sallie and Associates—saMeassocitates@sol.wm <br />