A micro business, also known as a microenterprise, is a small business that employs fewer than 10 people and generates less than $250,000 in revenue per year. Micro businesses are a popular form of business since they require very little startup capital and have low operating costs. They can include solopreneurs, freelancers, side hustlers, and many business owners who operate out of a single location. Micro businesses differ from small businesses in size and scope, with microbusinesses tending to be smaller and focusing on a specific niche, while small businesses offer a range of products and services. Micro business owners are often broken down into different categories, each with their own nomenclature, including freelancers, independent contractors, startup businesses, ecommerce businesses, street vendors, and small, local, independent retailers. Micro businesses can be run by micropreneurs (those who manage and lead a small team) or solopreneurs (those who work alone). Due to their smaller size and need for promotion, micro businesses require a strong marketing strategy.