A micro-enterprise is a business term that is used to classify a business that has been started with less than $35,000 and employs less than five people. Now you are probably looking around your office and realizing that all along you have been a micro-enterprise owner. Has a nice ring to it, doesn’t it?
And would you believe that around 87 percent of all businesses in the United States are considered micro-enterprises? It’s true, according to the Association for Enterprise Opportunity. With 24 million micro-enterprises in the country, there is a good chance that yours is one of them, which is actually a really good thing!
Micro-enterprises are great for many reasons, including such thing as:
● The low start-up costs involved. While $35,000 is the cap to be considered a micro-enterprise, many are started with much less, sometimes even the change you find in the couch!
● The low overhead that you usually have once you do get started. With less than five employees, or being the only employee, you don’t have to worry about meeting a big payroll each month or paying huge health insurance premiums for your team.
● You can easily tap into one of your talents to capitalize on it and make it your source of income. Doing this with larger businesses is much harder because you have to convince investors that your talent is worth their funding.
● The Internet has made it easier to reach your audience. No longer do you have to try to sell to only those in your city, the possibilities are endless!
Kudos, Fellow Micros
Micro-enterprises are all over the place! Some you see and others you never do because they are run out of homes, cars, or in backroom offices. They may be the daycare center down the road, the cookie or cupcake maker who sells their product each week at the farmer’s market, or the online used bookstore that specializes in Civil War period books.
Together they are people who are fulfilling their dream of owning their own business, doing what they love. Collectively, they make up the largest area of business in the country. And because they rock, their popularity will continue to grow!
If you are a micro-enterprise owner, you should feel good about it. After all, you are part of the backbone of this country. You may feel like a small piece of the pie, but when you really look at it, with being a micro-enterprise owner, you fall into the category that makes up nearly the whole pie!
For those that haven’t yet started their micro-enterprise, now is the time! And shooting for a micro-enterprise is a smart move. They are an important part of the economy in this country, as well as around the world. So dig around for that pocket change, tap into your talent, and start running your own micro-enterprise!
By Mike Michalowicz, Author of The Toilet Paper Entrepreneur
