Them’s fightin’ words—I’m a Micro!
WHAT IS A MICROBUSINESS?
Official Definition – Advocate groups typically define microbusiness as an organization with less than five employees, small enough to require little capital ($35,000 or less) to get started.
Unofficial Definition – Microbusiness owners refer to themselves as solopreneurs, independent professionals, consultants, craftsmen, artists, musicians, freelancers, agents, and self-employed. The majority of these companies are one-person enterprises, operate out of their homes and often have part-time help from a family member or friends.
A term used to separate big business from everyone else. A firm with fewer than 500 employees. A benchmark for everything from economic trends to comic relief a.k.a. Dilbert.
Small Business, however, is small, actually tiny—just 4%.
Micros on the other hand are huge, actually gigantic—95.8%.
Although we cast a big shadow—small biz gets all the attention. They control the conversation from newspapers to news outlets, from magazines to mainstream media— it’s all about small. Their wants and needs. Seriously, it’s annoying.
Micros don’t share small business issues nor their SBA benefits. We have a masters degree in juggling, a propensity for hats and are a fearless force of <ten… to be reckoned with.
So excuse me when I say, “Don’t call me small, them’s fightin’ words!”
40% of the workforce . 60 million people . will be contract employees by 2019. US Department of Labor