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Micro-Businesses, Still Under the Radar
A micro-business is one which does less than $1 million in business per year. The majority of these business are home-based businesses (HBBs)and they make up an unknown percentage of the small businesses that are tracked by the Small Business Administration.I have not been able to find recent micro-business figures for the entire US yet, but in the pre-internet days of 1992, home-based business contributed $314 Billion dollars, or 11 percent to the economy.
With today’s internet tools and online payment systems like PayPal, a micro-business can do business as easily as any large corporation. I wonder if the micro-business sector might not be contributing as much as 18% of the economy this year?
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home based business on January 10th, 2009 1:49 pm
I’m with you on the 18% and in fact think that home biz entrepreneurs are likely some of the wealthiest entrepreneurs as they work with a better business model.
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