| When coming up with ideas on the type of small | | | | The enterprises that fall under the formal setting |
| business enterprise to set up, it pays off greatly to | | | | include the very small enterprise, which is part of the |
| be informed on the different types and how they | | | | formal economy. It employs less than 10 employees, |
| operate. Developing an enterprise these days has | | | | but they all get wages or salaries. The ventures are |
| become relatively easier than it used to be. The | | | | mostly run by self employed artisans like electricians, |
| government especially, has put in much effort to | | | | as well as professionals. The small enterprise also falls |
| assist individuals to set up both formal and informal | | | | under this category and it normally has a complex |
| enterprises, especially those who may not be | | | | management structure. It has less than 100 |
| financially well up. | | | | employees and it operates under a license. |
| To get a glimpse of the various categories there are | | | | Medium enterprise employees has less than 200 |
| for the small businesses, there are those that fall | | | | employees, is owner managed but the management |
| under the informal sector. These are the survivalist | | | | structure is such that the management powers do |
| enterprises and the micro enterprises. They are run | | | | not solely lie with one person. The enterprise runs on |
| by family members and require little or no training to | | | | a fixed premises and has all the statutory |
| run them. The capital base required to set them up is | | | | requirements of a formal enterprise. It is up to you |
| also little and affordable for such people who are | | | | to decide under which category you want to operate |
| financially unstable. | | | | as you develop your business. |