Recently the Ozark Ramblings blog reviewed the Micro Business for Teens books. The post gives a nice summary what a micro business is and why it’s such a great way for a teenager to make money.
Some of the characteristics of a micro business and why they work for teens.
- Simple and fast to start up—Immediate gratification, not months and months of planning.
- Usually only one worker—no complications of payroll tax, Social Security Administration or unemployment to worry about.
- Sole proprietorship—no contracts, partnership negotiations, or lawyers to file incorporation documents. Also makes closing a business much simpler.
- Little start up money needed—starting a micro business shouldn’t mean taking on debt
- Usually home-based—no need to rent space, easy to move (when the teen goes to college)
- Low risk—you don’t have to be the next Bill Gates or create something entirely new, it can be a time-proven option like mowing lawns or babysitting
- Manageable—teens still need time for school and socializing. A micro business should be similar to working a part time job.
- The worker can learn while earning—a teen can earn money and learn time-management, marketing, bookkeeping, customer service, etc.
Read other reviews of Micro Business for Teens here.
