The literature on small and medium enterprises (SMEs) has seen significant growth in recent years; however, the burgeoning micro enterprise spectrum has received little attention. In much the same way the internationalisation of micro businesses has also fallen behind the SME internationalisation literature. This is despite the increasing expansion of micro businesses beyond geographical borders. There is no unified universal definition for a micro business and this is because the definition is subjective and depends on geographical location. For instance, in the United Kingdom (UK), an EU’s definition is adopted which defines a micro business is a company or organisation with fewer than 10 employees that has an annual turnover not exceeding €2 million (EU, 2015). According to the office of national statistics (ONS), there were 5.0 million micro-businesses in the UK in 2014, and the vast majority of businesses in the UK employ fewer than 10 people (ONS, 2015). Micro businesses often play a role in maintaining the economic viability and social cohesion of many regions in the UK, particularly rural and deprived urban communities. Unfortunately, micro businesses do not receive as much attention as the traditional SME community (ONS, 2015).
|Title of host publication||Diasporas and Transnational Entrepreneurship in Global Contexts|
|Number of pages||15|
|Publication status||Published - 18 Dec 2016|