Micro-Enterpreneurship

Description

FRANCESCA PICK:

"This growing phenomemon is becoming an entirely new sector within our economy. But what exactly is a microentrepreneur? Although there are many definitions, in essence a microentrepreneur is a person who manages a micro-enterprise, which is a small company that stays below a specific revenue level and has ten employees or less. In other words, microentrepreneurship is a form of small business or self-employment. According to Fast.co.exist, 4.1 million workers were self-employed in the U.S. in 2011.

Especially peer-to-peer (p2p) platforms, which have emerged as part of the sharing economy, have fostered this form of entrepreneurship. Advances in technology have also played an important role in making self-employment a more desirable career path than in the pre-internet age. Thanks to the flexibility that laptops and smartphones offer, many people see self-employment as a convenient, efficient but also fulfilling way to earn their living. The reason for this is that the internet makes it so easy for people to connect with their peers or potential customers, regardless of how far away they are.

Nevertheless a drawback of such flexible employment is that laws and regulations do not always adapt well to such models. This is why microentrepreneurs must be aware of the insurance risks they face and invest in building their personal brand. "