Microbusiness – the New Black

by blogmistress on March 5, 2009

I just read three articles in a row discussing the prediction in 2009 trending towards microbusinesses. What is a microbusiness? A microbusiness is typically defined an organization with less than five employees, small enough to require little capital ($35,000 or less) to get started. Microbusiness owners are the “…people who refer to themselves as soloists, independents, consultants, craftsmen, artists, musicians, freelancers, free agents, and self-employed people.

The majority of these companies are one-person enterprises …operate out of their homes; and many …have part-time help from a family member or friends.” (Courtesy of Lloyd Lemons in his Microbusiness Defined article).

The advantage of microbusinesses during a recession is the ability to be lean and flexible. The ability to quickly adapt to changing markets is a definite advantage that larger businesses and corporations do not have.

According to Dawn Rivers in her article on Small Business Trends, tells us that a  Jupiter Research report last year found that 89% of online businesses are microbusinesses. That research also found that microbusinesses had been quick to sign up for social networking sites but slow to use them, probably because many of us thought we didn’t have the time.

Social Media such as Facebook, LinkedIn and Twitter allow microbusinesses to build brand identity for very little money. Just an hour a day will go a long way to building brand – it is worth it to find the time.

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