Course Sample for Starting a Micro Business, Our How to Become a Teenage Entrepreneur Course
Lesson One: What is a micro business and what can you learn from starting one?
Have you heard the term “micro business”? Probably not, but you can imagine what it means. It is a very small business—smaller than a small business. The Small Business Administration, a branch of the United States federal government, defines a small business as having up to 1,500 employees and annual income of $25 million, or more, in some cases. That’s not very small, in my opinion.
Micro Businesses Are Popular
Micro business may not be a familiar term, but micro businesses are very common. MicrobusinessStrategies.com reports that:
- 1 in 8 adults in America own a micro business (thousands of teenagers too!)
- 95 percent of all American businesses can be classified as micro businesses (fewer than 10 employees)
- 90 percent of businesses have fewer than five employees
- There are more than 25 million micro businesses in America
- At least 49 percent (more likely 56 percent) of all businesses are home-based
Characteristics of Micro Businesses
Micro businesses are quite different from small businesses in several ways
Simple and fast to start up
Only one worker, the owner
Usually home-based
Manageable
Little start-up money needed, or completely debt free
Teenagers love starting micro businesses because little to no initial money is needed. Starting a micro business should not mean taking on debt. Micros can be started with equipment the teenager already has at home, such as a computer, a kitchen stove, or a piano. Teenagers use knowledge they already possess, such as artistic talent or web design skills.
Here is a key principle:
Starting a micro business should not mean taking on debt.
To view a full sample of this course, click here.