Technically, a micro-business is any business with less than five employees. With a micro-business you don’t need to quit your day job, you don’t need investors, you don’t need letterhead or logos or a website. You can make great dough in addition to your paycheck by launching something on a shoestring. We call it “bootstrapping” a business. Best of all, a micro-business can be started today and make money today.
A couple of facts: micro-businesses are, by far, the most common business in America. More than 77% of businesses have no employees except the owner. When you expand the definition to all businesses with less than five employees, the percentage of American businesses that are micro jumps to 95%.
Micro-businesses are the sleeping giant. They’re rarely mentioned by business experts, they’re harassed by the Small Business Administration and they get no love from the banks either. Even so, it can be said that America’s greatness was built on the backs of micro-business owners and that micro-businesses produce over 7.5% of the gross national product today.
