Let's Start Capacity Building Today!

Well, it was a great day to start Capacity Building as I had the good fortune to meet with MicroCredit-NH Regional Manager Peggy O'Keefe. Non-profit MicroCredit-NH is sponsored by municipalities, the state, various agencies and grants. It is a subsidiary of socially conscious New Hampshire Community Loan Fund, and has the objective of providing loans, training and networking opportunities for  self-employed and microbusiness(1 to 5 people) startups statewide.

Peggy O'Keefe handles MicroCredit duties for about one third of the state, including Nashua. She's part sales person, part counselor, part trainer, part dorm mother, part psychologist and a whole lot people lover. Peggy explained the goals and activities of MicroCredit with great enthusiasm. A beautiful part of the program is the creation of local groups, six to ten local entrepreneurs with ideas, who meet together monthly as a group while they get their enterprises fledged. Bonds build, networking evolves, lessons are learned and the new business owner starts his journey with a built-in support group. MicroCredit even grants loans to a participant of up to $5,000 simply if the group approves his application–no collateral, no financial history required. And they have a special program for Artist startups.

I was unprepared for how completely Peggy O'Keefe and MicroCredit embrace Capacity Building. They don't call it that, but resources, connections, networking, growing the support base are all techniques that are central to their activities. For them, building a business is like planning a big event, baking a special cake, or running a chemistry experiment: you put the ingredients together and let the magic happen.

One place Peggy mentioned where magic happens is the Amoskeag Business Incubator in Manchester. Small office spaces are available there with full support at very low cost. People can take their ideas to the implementation stage in a very supportive environment. But the great opportunity is that ABI is "where it is at"! All types of business resources pass through there for meetings or classes or just networking. In the old model, we would say "Look how much the entrepreneur will learn from all these people." In the new model seeking Capacity Building, we realize " Look how many talented, different resources the entrepreneur has gained networking with these people!"
 
During our chat at the Nashua Library, one of Peggy's current participants spotted her and came to catch up. What was the conversation about? Rent? Progress on the Business Plan? How the Business Cards turned out? No way! She spoke of people she had caught up with and what had transpired– resources, progress, connections, what the next step is and who can facilitate. These are people that talk the talk and walk the walk. The young woman's news included that she had completely sold out of her product, far earlier than she had expected.
Today was a very good day to start Capacity Building.

Photo of Peggy O'Keefe from MicroCredit-NH website