What is a micro business?

A micro business is one with a very small scope, product line, customer base, or employee pool. They may be run by a single person and only have a handful of customers, yet turn enough profit for the owner to live comfortably as their own boss. A popular example of a micro business are the food trucks that pop up in major cities: these individual businesses may not have a steady customer base and may only operate for a few hours per day, yet have developed a successful strategy with a bare minimum of employees and startup costs. While a goal of all businesses, broadly speaking, is to grow and expand operations, some micro businesses remain small if the owner is satisfied with their success and does not want the risk or stress that comes with growing their company.