- We talked to micro-business owners in 5 global locations
- We asked people to visualise their experience as business owners
- Micro-businesses have unique ways to think about business
- Micro-businesses have different motivations than those of corporate enterprises
How can businesses engage with the fastest-growing segment in both emerging & developed markets?
Micro-business is the fastest-growing business segment in both emerging and developed markets. Because of their small size and ability to react quickly, micro-businesses thrive in today’s volatile business environment.
Though their numbers are growing, micro-businesses are still underrated as competitors and overlooked as an addressable market.
At Claro, we neither dismisses them as informal nor glorify them as startups. Instead, we position micro-businesses at the centre of an emerging, self-employed, entrepreneurial economy. We believe that micro-businesses and corporations not only co-exist, but are increasingly interdependent. That is why it is imperative that businesses engage with this new wave of micro-businesses.
Multiple clients joined us in this cross-industry consortium project to explore how established business can learn from and engage with micro-business and informal enterprise that more can nimbly respond to changing contexts. Our global research leveraged ethnography, design workshops, and business modeling to develop frameworks for adapting to a future of increasing ambiguity and informality. Participants gained first hand insights by interacting with individuals, microbusinesses, companies and experts in the field and acquired a toolkit for building adaptive businesses that both learn from and enable informal enterprise.
If you would like to read more on this topic contact us to receive our Point of View document on The New Wave of Micro-business.