New software and the Internet allow creating micro-businesses without high business management skills or investors, leveraging global communication and social media for growth.
Micro-businesses are typically owner-operated with fewer than ten employees, bootstrapped, and started as a hobby or side-hustle, often requiring minimal investment, reflecting the rise in online entrepreneurship.
Steps to start a micro-business: Register as a business online, create a one-page business plan, and utilize home-based resources like thrift shops for office needs.
Micro-businesses like Shutterstock and Spanx highlight successful ventures originating from passion projects, showcasing the potential for scalable growth and brand recognition.
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