Bouncing back: The power of one in three.

According to the Bureau of Labor Statistics, 9 percent of Americans were unemployed at the end of April. That's 13.7 million people. What's more, another 2.5 million were not working, but wanted employment. The numbers are staggering, and at the Association for Enterprise Opportunity (AEO), we're working in conjunction with many others, including Citi, engaged in helping the economy and employment bounce back.

We're focusing on Main Street. By our count, "micro"--or very small--businesses represent more than 80 percent of all businesses in the United States and have huge potential as growth drivers. Our new research, generously funded by the Citi Foundation and fittingly titled "The Power of One in Three," shows that if just one in three microenterprises hired a single employee, the U.S. would be at full employment.

It isn't easy for Main Street businesses to hire and grow. Yet it is possible--and it is critical. Drawing on support from Citi and others, AEO has launched the Catalyst Initiative to help connect low-wealth entrepreneurs to assistance including pro bono financial, strategic and operational expertise, pro bono legal counsel from leading national law firms, peer networking opportunities, and access to growth capital as it becomes available.

I was encouraged to learn from a recent Citibank survey that small business owners are emerging from the recession and looking to do the very things necessary to achieve the growth needed to make these critical hires possible. For example, 68 percent are planning to increase marketing, and 54 percent are intending to offer new products and services.

We look forward to helping more small businesses tap into their potential to grow. Learn more about what Citi and AEO are doing to catalyze results for microbusinesses by visiting AEO's website, which was developed through a strategic communications investment by Citi Community Development.