Many participants in the Self-Determination program have a micro-enterprise to enhance their social and economic lives. While a micro-enterprise is a business, the goals of a micro-enterprise may differ from those of an ordinary business. In an ordinary business, the goal is to build wealth by generating a profit from the business activity; while profits may be the goal of a micro-enterprise, it is often not the primary purpose of the enterprise. Having a micro-enterprise can help a program participant with social and physical skills, as well as provide economic gains.
As your fiscal intermediary, we’re here to help you set up your micro-enterprise and offer you direction and advice in doing so. We will help you register, calculate, and prepare any taxes or liabilities associated with self-employment. Most importantly, we can help you with any questions you may come across while starting your own business.
If this sounds like something you are interested in please contact our office for more information, including: sample business plans, marketing plans and outlines, funding options, and success stories.
What is a Micro-Enterprise?
A micro-enterprise can be briefly described as a business that is started with less than $500, has no employees and has one owner/operator. People who form a micro-enterprises can be described as entrepreneurs. This has become a very popular way to make money and still have flexibility with your time.
Thinking of a product or service that will make money may sound difficult, but actually many people start their own business just by doing what they love. Here is a list of ideas that have worked as successful micro-enterprises, but certainly don’t limit yourself to what we came up with. What do you love to do?
- knitted products
- flower arrangements
- art and craft sales
- lawn mowing/snow removal
- pet sitting/walking
- cleaning service
- gardening/selling produce
Last year, we did over 50 micro-enterprises’ taxes. To avoid last-minute mayhem and late fees for businesses that wait until the last minute to send tax information, we have implemented an Engagement Contract. Only businesses that send the Engagement Contract to us signed by December 16th of every year, will be able to use our services for the sales tax preparation. By signing the contract, they are also agreeing to send us the required information by the deadlines stated.