(formerly Home-based Business)
About micro business
A micro business is classified as one that operates with four people or less. Micro business is one of the fastest growing sectors in the NSW economy, making up 88% of the State's small businesses. (Source: ABS Cat No. 8165.0, Counts of Australian Businesses, Jun 2003 to Jun 2007).
Micro businesses may operate as a single operator or multiple employee business from either home, mobile, shared offices or commercial premises.
Operating a business from home has become increasingly common because of of the digital revolution, outsourcing, the trend to self-employment and the growth of service industries.
This accelerated emergence of micro business operating in recent years can also be linked to better technology and trends toward more flexible lifestyles. Apart from the economic value this growth entails, local communities also gain with social and environmental benefits of those working from home.
Industry & Investment NSW’s information for micro businesses comprise:
About home-based business
Home-based business operators have more women than men with almost 61% aged between 35-54. Almost half of the participants have a website for their business, and 31% had an annual turnover of $50,000 - $150,000 in 2004.
Home-based businesses make up about two-thirds of the NSW's 650,000-odd small businesses (Source: ABS Characteristics of Small Business 8127.0 - June, 2004, and 2001 Census Data).
The social network portal LinkedIn had the highest subscription rate of micro-business operators, though Facebook was the most actively used. (Source 2009 Survey for Industry & Investment NSW by Tribe Research).