Glossary

Micro-enterprise

In plain wordsA business with fewer than ten people whose yearly turnover or balance sheet total stays under a set ceiling.

Also called: microenterprise

What it means in practice

The count is not only of the business itself. Holdings in or by other companies can be added in, so a sole trader who owns part of another firm may fall outside it. Being one shifts a role at home and changes nothing abroad.

The rules that give it meaning

Work out which rules apply to you · The other words