My Five Tenets for U.S. Microfinance by Jameson Lee

 

By Jameson Lee Growing up in Orange County, California as a seventeen-year-old high school student, I have been fortunate enough to avoid the extreme cases of debt, lack of food, water or shelter that affect a large percentage of the world today.  Introduced to microfinance by a teacher at my school, I soon recognized the potential that such a system holds to combat poverty. While I do believe that helping business owners in developing nations will help to balance the financial inequality felt throughout the world, U.S. microfinance deserves equal attention, with the current economic times making it harder than ever for businesses to qualify for loans. Motivated to make a difference, I hope to reach out to my fellow teenagers to help spread the word about the power of microfinance. I've read everything about microfinance that I can get my hands on, and came across Muhammad Yunus's "16 Decisions." I found them to be powerful messages for entrepreneurs in developing countries to move towards better social environments. Yet I believe that in an environment where concerns such as access to technology, transportation, education and safety are less significant, business owners in developed nations must have their own personalized guidelines. I gave some thought to the "16 decisions" of Muhammad Yunus and felt inspired to think about a few that would be well-suited for U.S. microfinance. Here are my "5 tenets" for U.S. entrepreneurs. To demonstrate independence, ambition, innovation and creativity in all aspects of life. To work within our means while also looking for economic opportunities in both local and foreign markets. To maintain a healthy social lifestyle to foster an ideal learning environment in which all family members can succeed in their own endeavors. To be economical in all aspects, making sure to place the welfare of family and business before oneself. To never take on more responsibility than can be managed, and to immediately confront issues concerning debt, education and living expenses. Exposed to the change enacted by ACCION USA, I found such an MFI to be the logical organization to contact in my search for ways to influence my own community.  While the need for microfinance in Orange County, California where I live may be less prevalent than other communities, by working alongside such an organization like ACCION USA, I hope to directly influence the lives of others in order to help business owners help themselves. As an advocate for microfinance, I look forward to the chance that it can give to local entrepreneurs, and to the entire world. Jameson Lee is a teen blogger interested in microfinance, social business, entrepreneurship and helping small business owners to help themselves.  His work focuses on explaining the fundamentals of Microfinance, while also questioning the basics foundations for a circumferential understanding of the system.  You can follow his work at www.TheRevelationist.com or follow him on twitter @TRevelationist

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