Micro-business

A micro-business is a subset of the small business entity category as defined by the Small Business Administration (SBA).

A micro-business usually operates with fewer than ten people including its owners. The majority of micro-businesses have no employees.

Generally, a micro-business generates less than $250,000 in revenues. However, I believe that number should probably be less than a million dollars in revenues.

The SBA also defines a micro-business as those businesses requiring less than $50,000 to start. Again, I think that number probably should be musch higher especially if the micro-business is acquiring real estate.

There are 25.9 million micro-businesses in the United States employing 61.7 million employees. The majority of micro-businesses are operated by solopreneurs.

Micro-businesses are food makers, restaurant owners, retail shop owners, social media influincers, accountants, lawyers, taxiscab drivers, plumbers, electricians to name a few types. They impact your life daily. They define our communities. They are our Main Street.