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Anita Campbell, Editor |
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| Past life: CEO, corporate executive, tech entrepreneur, retailer, general counsel, marketer, HR ... (more) | ||
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Small Business Trends Radio Tuesdays, 1:00 PM Eastern U.S. time on Voice America network Click to listen November 1st: Torsten Jacobi, CEO of Creative Weblogging, joins host Anita Campbell. Sponsored by Six Disciplines. Show details. |
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Monday, May 09, 2005 | |
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Number of Microbusinesses Grows | |
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Microbusinesses are the tiniest of small businesses. And their ranks are growing. A microbusiness (or microenterprise) is a business employing 5 or fewer individuals, with start-up financing needs of $35,000 or less. The Association for Enterprise Opportunity recently issued some figures on growth of these small businesses. According to its Microenterprises Employment Statistics Report, the number of microbusinesses in the United States grew by 5.9% between 2000 and 2002. Microbusiness employment now account for over 17% of U.S. employment. Here is a summary chart extracted from the report:
As you can see, the vast majority of these very small businesses have no employees (i.e., they are self-employed). The report demonstrates the impact of very small businesses to the economy -- these numbers are not insignificant. At the same time, the report leaves certain obvious questions unanswered, such as:
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