A micro-business is an enterprise that employees less than 10 people and generates less than a few million in revenue (more or less). According to the recently released Global Micro-Business Impact Report, by Vistaprint, the top seven countries where micro-businesses flourish are located primarily in Europe with 2 in Asia and North America. To create the Impact Report, Vistaprint investigated “the impact micro-businesses have on the global economy, by combining and comparing the latest available data from research leaders such as The European Commission and OECD.”
The top seven countries for micro-businesses ranked by the report were 1) Czech Republic 2) United States 3) Indonesia 4) United Kingdom 5) Portugal 6) Slovakia 7) Iceland. The rankings were determined by amount of micro enterprises per 1,000 persons. The Czech Republic led the pack with 89 micro-businesses for every thousand Czechs.
When comparing the percentage make up of micro-businesses per economy, the global average fell to 20.5% with Norway leading all countries at 38.1%. In terms of employment, micro businesses make up 32.3% of jobs within any given economy on average, with Australia and Spain sitting at the tip with 44.5% and 41.1% respectively.