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micro-enterprise

    60121an enterprise which:

      1. (a) employs fewer than 10 persons; and
      1. (b) has a turnover or annual balance sheet that does not exceed €2 million.

    In this definition, "enterprise" means any person engaged in an economic activity, irrespective of legal form and includes, in particular, self-employed persons and family businesses engaged in craft or other activities, and partnerships or associations regularly engaged in an economic activity.

    [Note: article 4(26) of the Payment Services Directive and the Annex to the Micro-enterprise Recommendation]