micro-enterprise

In general, a microenterprise is considered a small business employing 10 people or less, and have a capital asset of less than PhP 3,000,000. Internationally, most microenterprises are family businesses employing one or two persons. These microentrepreneurs operate microenterprises by choice. Most microenterprise owners are primarily interested in earning a living to support themselves and their families. They only grow the business when something in their lives changes and they need to generate a larger income. According to information found on the Census.gov website, microenterprises make up 95% of the 28 million US companies tracked by the census. Microenterprise is a common aspect in business communities everywhere. The terms microenterprise and microbusiness have the same meaning, though traditionally when referring to a small business financed by microcredit the term microenterprise is used. Similarly, when referring to a small, usually legal business that is not financed by microcredit, the term microbusiness is used.