Micro-enterprises (i.e. enterprises employing up to 9 people) play a very important role in the European economy. In many European countries, micro-enterprisesÕ share of the total SMEs employment is approximately 34% with about 93% of all SMEs being micro-firms (Observatory of European SMEs, 2003). However, the growth of micro-enterprises is usually described in the broader context of the growth of the sector of small and medium enterprises (SME, or enterprises employing up to 249 people), of which they constitute the largest part (about 95%). Thus, it appears that the issues related to micro-enterprises are very similar to those of all small and medium enterprises.