microbusiness
Microbusiness refers to a very small for-profit enterprise typically operated by one person or a small team. Definitions vary by country, but microbusinesses are generally owner-operated, with few employees and low startup costs. They often rely on local markets and personal networks and may operate from home or a modest storefront.
Characteristics: lean operations, direct control by the owner, limited overhead, and use of digital tools for
Economic role: Microbusinesses contribute to employment, income diversification, and local entrepreneurship. They commonly act as entry
Common sectors and models: freelancing, crafts, professional services, food-based ventures, and online retail. Many microbusinesses sell
Financing and challenges: Startups often rely on personal savings, family loans, microfinance, or crowdfunding. Common challenges
Relation to small business: Microbusiness is the smallest category in the private sector, distinct from small