noun
- a very small business, typically employing fewer than ten people and requiring minimal capital investment
Usage: commonly used in development economics and international business contexts; often associated with informal economies and entrepreneurship in developing countries
Examples
- She started a microenterprise selling handmade crafts from her home.
- Microenterprises in rural areas often lack access to formal banking services.
- The nonprofit provides microloans to help entrepreneurs launch microenterprises.
- Many microenterprises operate in the informal sector without official registration.
- The government launched a program to support microenterprise development in low-income communities.
- Street vendors and small traders typically run microenterprises.
- Microenterprises are crucial for job creation in developing nations.