What is a micro-enterprise?

A micro-enterprise is defined as a small business with typically fewer than 10 employees. This classification emphasizes the scale and scope of operations, as these businesses are often independently owned and operated, catering to local communities or niche markets. Micro-enterprises play a vital role in the economy by creating jobs, supporting local economies, and fostering entrepreneurship.

The other choices describe entities that do not fit the criteria of a micro-enterprise. For example, organizations with over 100 employees would be classified as larger businesses or corporations, which is contrary to the core definition of a micro-enterprise. Similarly, non-profit organizations and franchises of larger companies do not meet the characteristics of a micro-enterprise, as they often have different operational structures, goals, and scales of operation. Therefore, the definition of a micro-enterprise is best captured by the notion of being a small business with fewer than 10 employees.