Micro business differ from small businesses in several ways. Their unique descriptors are:
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Simple and fast to start up and to close down if you need to.
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No employees. Only one worker, the owner.
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Sole proprietorship (only one owner, no partners).
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Little start up money needed or completely debt free.
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Usually home based.
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Low risk. You’re not in this to lose money.
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Manageable. You can still have a life, be in sports, youth group, and finish your homework.
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Learn a lot while earning cash.
Notice I didn’t say anything about micro profits! You can earn a lot of cash with a micro business.
My book, Running a Micro Business, has more information on running a micro business.
Carol Topp, CPA is the author of the Micro Business for Teens books.
