All micro businesses are small businesses. The only difference is a micro business is a subset of the small business community based on the number of employees within the company.
While your company can technically be considered a small business even if it has dozens of employees, your business is a micro business if you employ less than six people. If you are a sole trader, self-employed, or have no employees, you operate a micro business.
There are other guidelines that can also define whether your company is micro or small. If your company required less than $50,000 to start or if your company does not access traditional capital loans, you are running a micro business.
- intuit.com -
Heon Yook - July 25, 2020, 12:05 a.m.
Small business is not small.
Micro business is still not small.
Nano business is true small business in real world near me.