Micro-Entrepreneurship is an important and relevant topic, as it is really a stepping-off direct for new entrepreneurs and innovative businesses. Technically defines micro-enterprise as smaller business unit, characterized by fewer than 10 workers, although it is quite common that initially starts with a volume of annual turnover under 2 million. According to Hisrich and Peters (1998, p.9) entrepreneurship is defined as the process of creating something new with value by devoting the essential time and effort, assuming the accompanying financial, psychic, and social risks, and receiving the resulting rewards of monetary and personal satisfaction and independence.
The definitions of entrepreneurship are varied, but in general include the ability to create, innovate, bear risk, manage and achieve targets (Jennings, 1994, p. 12). Until not long ago to set off a business required a significant investment and take risks that could considerably affect the economics of entrepreneurship.
Fortunately, with the business opportunities folded in the Internet, a worldwide phenomenon of micro internet entrepreneurship is growing. Proof of this is that there are thousands of micro – entrepreneurs around the world that are establishing their own online business every day. Entry costs are very low or almost zero and the benefits and life style are appealing.
As our economy continues to globalize and the internet makes it easier to start a business, there will be an increased number of workers making the transition from employee to contractors and micro – entrepreneurs. It is a trend that is being implemented in society and in a few years that will change the way we work and do business. A new era opens the possibility to generate income and become self-sufficient to have just anyone with a PC and an Internet connection. However, there are also challenges in initiating and managing a successful online business and those will be explored in this research project.
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Jennings, D.F, 1994, Multiple Perspectives of Entrepreneurship: Text, Readings and Cases. South-Western, Ohio, USA.
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