Self-Employed Entrepreneurs, The New Era Workforce

It’s all about The Gig Economy

The nascent on-demand economy is growing with hundreds of new platforms that have inspired new thinking and practices. Attention is being paid to how these companies are disrupting commerce, solving logistic problems, and creating a new sector of the labor force– and a new era of entrepreneurs. Couple that with a trend toward independent work and the words ‘work’ and ‘job’ take on whole new meanings.

The concern is that while these trends may be good for some, they could result in a race to the bottom for entrepreneurs in lower/moderate income sectors. The challenge is to help this population manage their multiple income streams so that they can survive and thrive and achieve viable incomes—and ultimately create wealth.

CAMEO and Intuit are hosting an invitation only symposium – Self-Employed Entrepreneurs, A New Era Workforce on November 30 – to discuss and discover practical solutions and policies that will help the new economy work for all.

Four reports/papers have come out on the topic only in the last week. Check ’em out.

  • Institute for the Future published Voices of Workable Futures: People Transforming Work in the Platform Economy. They interviewed 31 on-demand workers and identified seven archetypes of the on-demand economy, and describe what entrepreneurs, policy makers and platform developers need to ensure success.
  • To better understand the independent workforce and what motivates the people who participate in it, the McKinsey Global Institute surveyed some 8,000 respondents across Europe and the United States. The resulting report, Independent work: Choice, necessity, and the gig economy, finds that up to 162 million people in Europe and the United States—or 20 to 30 percent of the working-age population—engage in some form of independent work.
  • In its third year, ‘Freelancing in America‘ is the most comprehensive study of the independent workforce. Commissioned by Freelancers Union and Upwork, this study analyzes the size of the growing freelance economy and provides insights into the lives of independent workers. This year, we examined the potential impact of freelancer voters on the 2016 presidential election.
  • Etsy released a new policy paper – “Economic Security for the Gig Economy: A Social Safety Net that Works for Everyone Who Works“. The paper outlines four federal policy proposals that Etsy believes would would bolster economic security for the 21st century workforce.

Happy Reading!

Recognizing Claudia’s Contributions to Micro

We’re proud to announce that Claudia has been appointed to two bank Community Advisory Boards – First Republic Bank and MFUG Union Bank! Jim Herbert, Chairman and CEO of First Republic Bank says:

We’re very pleased to welcome five recognized leaders to First Republic’s Community Advisory Board. The advice and counsel of highly respected community leaders will help us further develop innovative new programs and will strengthen and focus the numerous initiatives we have had in place for many years.

The mission of Community Advisory Boards is to further strengthen a bank’s fair lending and Community Reinvestment Act (CRA) programs for low-to-moderate income and under-served minority communities. Members of Community Advisory Boards offer advice and strategic guidance on a bank’s initiatives focused on affordable housing, small business and economic development, and financial empowerment, both in terms of investments and philanthropy. They offer insights on under-served markets and advise on strategies for reaching them.

Also, Centro Community Partners will honor Claudia as an ‘Opportunity and Social Equity Maker’ for her trajectory empowering women and underserved entrepreneurs, along with Trina Villanueva from Union Bank. It takes place at their Come Meet the Neighbors Block Party on Wednesday, December 7, 2016, 6:30 – 9:30pm at the Impact Hub Oakland.

The Goodies

New opportunities for training, conference information, funding, scholarships, and other information that have crossed our desks since the last Must Know. I have posted a running tab of current Industry Goodies on the CAMEO website that lists items that were in past emails. Check it out to make sure you’re not missing anything, like grants whose deadlines are still alive!

Entrepreneur Tracker: Join the seven CAMEO members who are using FIELD’s Entrepreneur Tracker. The tool offers a credible, affordable way to collect and understand outcomes achieved by small business and microbusiness clients. Such outcomes include: Business start and survival rates, jobs, changes in revenue, hourly wages paid to workers, and client movement out of poverty. To discuss pricing and learn more about EntrepreneurTracker, please contact Lavanya Mohan.

New Report: The SBA’s Office of Advocacy has a new report – The Arrival of the Immigrant Entrepreneur. Over the last 20 years, the role of immigrant entrepreneurs has grown. The percentage of the self-employed who were born abroad more than doubled between 1994 and 2015, growing from 8.6 percent to 19.5 percent. This report shows that the growth was caused by three changes — an increase in the size of the population born abroad, an increase in self-employment among those born abroad, and a decrease in self-employment overall.

For Your Clients: Small Business Majority is helping get the word out on California Covered ‘What You Need to Know About Changes to Health Insurance.’ Please share with your clients. Most appropos: If a firm has less than 50 FTE employees, they are not required to offer health coverage. However, if they choose to offer coverage, it must comply with the Affordable Care Act (ACA) requirements.

Free Webinar: The Department of Labor (DOL) recently finalized the “Overtime Rule,” which updates the exemption threshold for salaried, administrative, and professional workers. DOL is partnering with the Small Business Administration’s (SBA) Office of Advocacy to host a webinar entitled, “Preparing for the Overtime Final Rule” on Monday, October 17, from 8:00am PDT // 11:00am EDT – 9:00am PDT // 12:00pm EDT.

Business Event: CalAsian Chamber of Commerce presents the 5th annual How to do Business in the Pacific Rim. The event will emphasize the strong linkages between international trade and tourism as well as the power of the California Brand in developing bilateral business and investment opportunities between the Pacific Rim and California. The complimentary ticket promotion code is: calasianpromo. This event will be held in CSU Sacramento Alumni Center on Wednesday October 19, 2016, from 8:00am – 2:00pm.

Free Webinar: The Small Business Administration (SBA) and the Reentry Employment Opportunity (REO) are working together to highlight the rule changes making it easier for formerly incarcerated persons to participate in SBA’s microloan program. They host Introduction to the Office of Economic Opportunity: Microloan Program, a webinar on Thursday, October 20, 2016 10:00am PT // 1:00pm ET to discuss rule changes that open new opportunities for former prisoners to secure financing.

Funding Opportunity: Communities are invited to apply for a new round of planning assistance from Local Foods, Local Places. The application deadline is 11:59 pm ET on November 6, 2016. Local Foods, Local Places helps communities create more livable neighborhoods by promoting local foods and is supported by a slew of federal agencies. A webinar to answer questions on the application will take place on October 20, 2016 at 11:00am PT.

OFN Conference: Registration is now open for Opportunity Finance Network’s annual conference – Rethink. It takes place October 24-27, 2016 in Atlanta, GA.

Professional Development: CALED is partnering with the California Academy for Economic Development, Fresno State, and the University Business Center, to bring you the Introduction to Economic Development Certificate Program. Register for this certificate program that is designed as an introductory course for people who are generally interested in knowing more about how local economic development works, as well as for those people whose responsibilities include economic development assignments. The course runs from October 24-27, 2016 at Fresno State, Craig School of Business. Fees: $700 CALED Member Rate (you must be the listed CALED member) or $800 Non-Member Rate (includes a one-year membership in CALED).

For Your Clients: Small Business Majority hosts Access to Capital 101: Funding Options to Start and Grow Your Business every other Wednesday, the next ones are November 2 and 16. They present an overview of alternative lending options including community development financial institutions, SBA’s loan guarantee program and reputable online options, key questions to consider when seeking funding, the Small Business Borrowers’ Bill of Rights and helpful tools and resources.

Conference: Save the Date for the 6th Annual Asset Building SymposiumFostering Economic Equity in a Changing Bay Area on November 3, 2016.

For Your Clients: AEO is partnering with the Federal Reserve System to survey existing and pre-start stage small business owners/managers. This survey is designed to better understand the credit landscape for small business and the experience of small business owners. As in prior years, the Federal Reserve System will release a national report of the survey findings. This year, they will also share custom data reports. They are seeking your help in distributing an important national survey of small business credit to your applicants and clients. The survey will be open now through November 23.

For Your Clients: The Equal Employment Opportunity Commission (EEOC) recently launched a resource center for small business owners. The site contains information on owners’ responsibilities under federal employment discrimination laws and responses to frequently asked questions. It also provides information on hiring decisions, training, and other workplace issues.