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What’s A Micro Biz?
Most of my small business clients operate micro businesses. What is a micro business?
• Sole proprietorship (one owner)
• No employees
• Low or no start up costs
• Frequently a service business with no inventory
• Home based to keep costs low
• Usually the first business a individual starts
• Sometimes a starting place to launch a bigger business
• Sometimes started for a specific financial goal such as a college fund for their children, a vacation, or to fund another business
• Run extremely efficiently-everything must bring in more benefit than it costs
• A wonderful learning experience!
How about you? Do you run a micro business?
Photo by Oude School.
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Kurt Henninger on December 27th, 2008 9:25 am
I am a firm believer in “micro” businesses or small businesses. I particularly like the comment about how everything they do is centered around making $$ for the company and that they are run very efficiently.
cassy on December 28th, 2008 11:45 am
micro or we called it a small business are fast growing community business,coz they market directly to the people and even if they are athome,street,inside the malls they are every where.thats what makes them a grow fast, not only their profit but they also help the revenue of the goverment for their taxes.
DeBorah Beatty on December 30th, 2008 2:56 pm
Yes, I run a microbusiness. We’re now called solopreneurs. Running a microbusiness is a mixed blessing, in my opinion. You get to live your dream if you’re lucky, but get penalized in some cases for doing so (i.e. stimulus checks last year – not for self-employed unless you have children).
More needs to be done to provide some benefits for these hard working pillars of the American economy. A better awareness helps.
Lloyd Lemons on January 15th, 2009 8:17 pm
Here’s another definition for a microBusiness.
http://tinyurl.com/69b39w
(Cut an paste into your browser.)
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