Welcome to Starting a Micro Business, Our How to Become a Teenage Entrepreneur Course

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.