Why do people think Micro Business is a good Idea?

Micro Business Definition – A business that operates on a very small scale

I wrote about Micro Business in Australia back in 2014 and small business owners and ideas have kept growing since that time.

The Statistics

Small Business Statistics – According to the ABS the number of small business registered had dropped but there were fewer businesses that closed. This means 2014-2015 had a 1% increase in small business numbers.

Interestingly – Construction continues to have the most businesses operating, with 345,479 in operation in 2014-15.

Health care and social assistance has the highest rate of business survival, with nearly 75 per cent of businesses surviving over a four-year period.

It is tricky to look at Small Business Statistics though because this covers business up to 19 employees – to me this is not Micro Business.

A true Micro Business

Micro Business are the solo operators, who may have one member of staff or who outsource to other solo operators. This outsourcing may be a virtual assistant, bookkeeper, graphic designer etc.

BUT – Why do people think Micro Business is a good Idea?

  • You get to run your own show
  • You build and set your own level of income
  • Often you can operate from anywhere in the world
  • Your overheads are low
  • You provide amazing service and people love that
  • People know they are dealing with the business owner
  • Shop Small is a wonderful initiative
  • You are building your own empire not someone else’s
  • The mission is not to own the world, just your own world
  • Freedom to be available for kids
  • Work outside of normal business hours
  • Be passionate to jump out of bed and do what you do
  • Meeting and finding new opportunities
  • Meeting new people
  • Collaborating with others
  • Some of the most amazing people I know are Micro Business Owners

And many more – Tell me in the comments your reasons

Why do people think Micro Business is not a good idea?

  • It can take 2 years or more to generate a regular income
  • It is incredibly hard work often without reward
  • It can be lonely
  • It can be boring
  • It can be difficult to have all the responsibility
  • It can be stressful if things aren’t going well
  • It can be stressful if things are going well
  • You may work 7 days and nights each week
  • You may never take a holiday while you own your business
  • You may get taken advantage of by people who don’t pay you or value what you do
  • If you work at home people may think they can call in anytime unannounced
  • It may be a struggle for friends and family to take your business seriously

And many more – Tell me in the comments your reasons or struggles

For me (Kelly Robinson), I love Micro Business, Small Business and everything in between. It is all I have ever known and I am extremely passionate about seeing others be successful.

The journey, itself has its own rewards and yes, it is very hard work but the rewards are there and I don’t just mean financially. I have received far more rewards being in small business that just financial ones.

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