Study: Micro-businesses need more help

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Researchers found that most (93%) like the control of working for themselves, but that reaching a consistent income point remains a challenge (67%). Other interesting findings from the report include:

• 85% of micro businesses say they need better access to health care and loss of income
• 67% say inconsistent income is a problem
• 32% report establishing trust with contracting businesses is a challenge
• 31% report access to benefits, like health plans, are a challenge

“The punch line here is that work and income opportunities have evolved, but current programs designed for small businesses aren’t serving the needs of the micro businesses, a rapidly growing category,” said Greg Waldorf, CEO of Invoice2go. “Nearly 40 percent of our respondents left traditional work to strike out on their own, and we estimate more than 80 percent of all Invoice2go users have less than five workers, with plans to remain that way. At Invoice2go we are backing this type of entrepreneurial spirit. It is our hope that the government will begin to take note and to support the specific needs of the smallest of businesses.”

According to the Association for Enterprise Opportunity, more than 90% of US businesses are made up of 5 or fewer people.

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ABOUT THE AUTHOR

Kristina Knight-1
Kristina Knight, Journalist , BA
Content Writer & Editor
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Kristina Knight is a freelance writer with more than 15 years of experience writing on varied topics. Kristina’s focus for the past 10 years has been the small business, online marketing, and banking sectors, however, she keeps things interesting by writing about her experiences as an adoptive mom, parenting, and education issues. Kristina’s work has appeared with BizReport.com, NBC News, Soaps.com, DisasterNewsNetwork, and many more publications.