HomeSchool CPA:
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.