ARTICLES
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What Is a Micro Business?By Pierre Mouchette | Real Property Experts LLC
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Micro businesses are companies with annual sales and assets valued at less than $250,000 per year and with fewer than five employees, including the owner. A subgroup of small business, micro enterprises develop in a variety of industries where they may later grow beyond their original foundation or stay the same size for the life of the company. Micro businesses are a vibrant and profitable segment of any growing economy.
Although all micro businesses are technically small businesses, the operating costs and revenue collected are often significantly higher for a small business as it scales up, even with the addition of only one new employee. Yet, with micro businesses responsible for more than 41 million jobs in the U.S. private sector, these entrepreneurs with a business of five or fewer employees warrant their own market representation.
An Added Challenge for Micro Businesses
The voice of micro business in the United States, is the Association for Enterprise Opportunity (AEO), and it speaks for the needs of companies considered too small for the Small Business Administration (SBA) to recognize as unique. The AEO works to educate micro business owners on how the latest trends and government economic policy changes will affect them.
No matter if you identify your business as small or micro, there is no denying the advantages of running an enterprise on a niche or limited scale. Both company sizes serve their local economies as a provider of goods and services for a targeted audience that mid-size or large corporations may take for granted. Often bolstered by a level of expertise and commitment to quality customer service, small and micro businesses offer consumers a personalized experience in a society where interpersonal connection is valued as much as price.
For more information on the Association for Enterprise Opportunity contact:
Address:
1601 N. Kent Street, Suite 1101
Arlington, VA 22209
United States
URL: http://www.microenterpriseworks.org
Sector: Community Development Financial Institutions (CDFIs)
Phone: 703-841-7769
FAX: 703-841-7748
eMail: aeo@assoceo.org
Although all micro businesses are technically small businesses, the operating costs and revenue collected are often significantly higher for a small business as it scales up, even with the addition of only one new employee. Yet, with micro businesses responsible for more than 41 million jobs in the U.S. private sector, these entrepreneurs with a business of five or fewer employees warrant their own market representation.
An Added Challenge for Micro Businesses
The voice of micro business in the United States, is the Association for Enterprise Opportunity (AEO), and it speaks for the needs of companies considered too small for the Small Business Administration (SBA) to recognize as unique. The AEO works to educate micro business owners on how the latest trends and government economic policy changes will affect them.
No matter if you identify your business as small or micro, there is no denying the advantages of running an enterprise on a niche or limited scale. Both company sizes serve their local economies as a provider of goods and services for a targeted audience that mid-size or large corporations may take for granted. Often bolstered by a level of expertise and commitment to quality customer service, small and micro businesses offer consumers a personalized experience in a society where interpersonal connection is valued as much as price.
For more information on the Association for Enterprise Opportunity contact:
Address:
1601 N. Kent Street, Suite 1101
Arlington, VA 22209
United States
URL: http://www.microenterpriseworks.org
Sector: Community Development Financial Institutions (CDFIs)
Phone: 703-841-7769
FAX: 703-841-7748
eMail: aeo@assoceo.org
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RPE Category (Digital Digest)
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LIFE KNOWLEDGE | People
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PUBLISHED:
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November 16, 2020
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