Micro (Small)
"Micro (Small)" typically refers to businesses that are very small in scale, often characterized by having a limited number of employees and low annual revenue. These businesses usually operate locally and can include sole proprietorships, family-run shops, or small service providers. They play a crucial role in the economy by creating jobs and fostering community engagement.
In many countries, the definition of a micro business varies, but it generally includes firms with fewer than 10 employees and annual revenues below a certain threshold. Support for these businesses often comes from government initiatives and organizations that aim to promote entrepreneurship and economic growth, such as Small Business Administration or local chambers of commerce.