Micro-businesses grow town and village futures.
What are micro-businesses?
The Australian Bureau of Statistics (ABS) classifies micro-businesses as a subset of the micro-business category with 0–4 employees. Small businesses have 5-19 employees.
There are well over 3 million businesses of all sizes trading in Australia. Of these, 97% are small businesses, and within this category, 85% are micro-businesses. Over 300,000 new businesses start up in Australia each year, some within an existing enterprise.
The majority of micro-businesses are one-person businesses that do not employ additional staff. Over 60% are home-based or lifestyle businesses. Micro-businesses are increasing as people look for a flexible working environment and are more in control of their lives using modern technologies.
Many people choose to start micro-businesses to:
- Avoid the daily commute to the office.
- Do something new and exciting.
- Being valued for their efforts.
- Create a better work/life integration.
- Work with more flexibility.
- Create a lifestyle business.
- Work from home.
- Their knowledge can be better utilised.
- They see an opportunity to fulfil a need in the community.
- Be available for their children.
- Make more money.
All of these things are possible with sound management practices. Most of the best businesses started small and learned as they grew.
You judge where the value is.
There is much ignorance surrounding the value and importance of micro-enterprises. Many argue that micro-businesses are symptomatic of a weak economy. Just look at developing countries where micro-enterprises dominate.
A large number of micro-businesses in these countries are often driven by survival. The lack of employment opportunities and a failing or absent welfare state force unemployed people to do whatever they can to generate money. Old thinking could hold you back and not take you to the future.
Some have described micro businesses as necessity-based, with people often forced into companies because they lack any other alternative. But isn’t driving employment and improving lifestyles what most regional, rural, and remote communities want and need?
Quotable quotes.
“The price of success is hard work, dedication to the job at hand, and the determination that whether we win or lose, we have applied the best of ourselves to the task at hand”. Vince Lombardi
“While your purpose, vision, mission and strategies are important, it is becoming action-oriented and working on your objectives, which will make your micro-businesses successful”. Peter Sergeant