Free Online Service Connects Entrepreneurs with Experienced Mentors to Grow Successful Small Businesses

MicroMentor 2.0 supports local small businesses by providing entrepreneurs with access to one-on-one mentoring.

Portland, OR- Today Mercy Corps announced the launch of MicroMentor 2.0, a free online social networking tool designed to easily connect entrepreneurs with people who have the skills they need to grow and improve their businesses.

It has become apparent that America’s economic recovery will be driven in large part by small businesses. Responsible for half of all private-sector jobs, small businesses have “created roughly 70 percent of all new jobs in the past decade.” (White House statement 16 Mar 2009).

At a time when the US economy is shedding jobs at an alarming rate, connecting small and micro businesses — businesses with five or fewer employees — with one-on-one mentoring is a proven economic growth strategy. MicroMentor focuses on reaching traditionally underserved small-business owners (women, minorities, and those in rural and lower-income communities), helping them increase their revenues, create jobs, and ultimately strengthening local economies.

The improved 2.0 version of MicroMentor, available today, automatically matches skilled business volunteers with entrepreneurs, based on each person’s industry and expertise. This ensures that mentors are in a position to provide meaningful advice to their mentees on their most pressing issues, from creating business plans to addressing cash flow problems. And because MicroMentor is a nationwide network, entrepreneurs can choose to be matched with business mentors who live right in their own communities or even on the other side of the country.

“MicroMentor’s enhanced usability and smart matching engine make it easier to connect the right volunteer with the right entrepreneur,” said Jeff Jones, Program Director, MicroMentor. “Our program offers a win-win solution - entrepreneurs receive advice to help their businesses succeed and mentors find a meaningful way to share their experience and unique skills.”

MicroMentor 2.0 builds on the service’s strong base of more than 1,015 mentors and 1,380 entrepreneurs participating in the program across 48 states. These relationships have helped small business owners achieve a median 74 percent business survival rate (8% higher than the national average) and increase annual business revenues on average by 63 percent.

“MicroMentor’s commitment to helping micro and small business owners start and grow their enterprises successfully, is directly aligned with the Citi Foundation’s commitment to the economic empowerment of individuals in need, so that they can improve their standard of living,” said Amy Feldman, Program Officer, Citi Foundation. “We are very pleased to be the primary funder of MicroMentor 2.0.”

To participate in MicroMentor, mentors must have significant business experience (usually three or more years of management), and mentees must be actively starting or growing a small business. For more information about the program or to become a mentor or mentee please visit: http://www.micromentor.org

Media: For more information please contact Andie Long at (425) 638-7142 or andreal@waggeneredstrom.com. The MicroMentor contact is Jeff Jones, MicroMentor Program Director, at (415) 692-4840 or jeff@micromentor.org.