The BVI has, for many years, been a key jurisdiction in the
international business community with over 350,000 active business
companies domiciled here, many of which form part of the corporate
structures of the world's largest multinationals. With the
bringing into force of the Micro Business Companies Act, 2017 (the
MCBA) on June 4th this year, however,
the BVI has turned its attention to one of the largest economic
groups on the planet by number – micro enterprises.
A significant percentage of all employment within the OECD group
comes from small enterprises, many of which have fewer than 9
employees and, as such, are frequently termed 'micro'
businesses. While there is no common definition of what a micro
business is, they are typically small, family-and-friends run
business without a high degree of corporate sophistication.
Furthermore, whereas larger companies tend to be based in rich,
developed countries, micro business are frequently found in, and
play a
