Do you define yourself as a micro business owner? If you employ less than ten people, the chances are that your business is not just small but is in fact a micro business.
The majority of these businesses are content with remaining small and will also have a small but dedicated customer base that they can rely on to generate revenue, with most of their new customers coming through referrals.
Two thirds of micro businesses are run directly from the home of the owner and it is estimated that all of the micro businesses in North America and Europe combined total approximately 50 million.
Half of these businesses make less than $25,000 in annual sales revenue so it is clearly a labour of love for most. Check out the infographic below for more statistics about micro businesses.