DON SADLER

In the age of big-box home improvement stores, many people have started handling fix-it projects themselves. The worst that can usually happen is a plumbing repair springs a leak. Do-it-yourself lawyering, however, is another story.

You could say that entrepreneurship runs in Abigail Dahl’s blood. Five of her close family members have owned their own businesses. That includes her mother, Suzie, who recently opened Avenue 30, a retail store selling wine and gifts in Scappoose, Ore.

Remember when grocery store baggers started asking whether you wanted paper or plastic bags? Now many micro-business owners have to answer a similar question when it comes to their payment systems: Do you want to send and receive payments via paper or electronically?

Ten years ago a discussion of online marketing probably started with “So, do you have a website?” Today, having a website is a given even for the smallest micro-businesses and solo entrepreneurs. But having a website is just the start.

Many micro-business owners have a hard time envisioning anyone else running their company. It’s your baby, after all, and you’ve built it from the ground up with your own blood, sweat and tears.

Few things are more frightening to micro-business owners than learning that they’ve been selected for an IRS audit. In reality, the odds of being chosen for an audit are small.

As a self-employed professional, you might see yourself as a boss, a business owner, a contractor or even a supplier for other business owners. But do you see yourself as a leader?

Whether you’re an entrepreneur who launched a business this year or a longtime self-employed professional, the end of the year is a crucial time for gauging the financial success of your micro-business. It’s also a critical time for deciding how to manage your profits so you give your company—and yourself—the best financial advantage.

“It takes money to make money,” the old saying goes. But in today’s tight credit climate, getting the money needed to grow and expand a business has become difficult, if not nearly impossible—at least from traditional financing sources like banks and private investors.

The greatest business risk many owners face may be standing right in front of them: employee fraud and embezzlement.

“It’s not what you make, but what you keep.” While it’s not clear who first uttered these words of financial wisdom, anyone who’s been in business for any length of time can attest to their accuracy. Sales may be great, but business success ultimately hinges on your ability to earn a profit.

The benefits of a Roth individual retirement account (IRA), which have been inaccessible to many self-employed individuals and micro-business owners, may finally be within your reach.

Thousands of micro-business owners and self-employed professionals rely on contracts with government entities for a significant portion of their annual revenue.

If you’re experiencing hiring challenges, one solution might be to broaden your search to include members of Generation Y. Also called Millennials, they were born roughly between 1979 and 1988. Businesses that ignore these 20-somethings are shutting the door on a huge universe of potential employees—employees that might be a perfect fit for micro-businesses.

In these tough economic times, it’s not uncommon for micro-business owners to be approached by family members or friends looking for a job. Laid off from work and unsuccessful in landing a new job, these relatives and friends may feel like you’re their last hope for employment.

Can you or can’t you take the home office deduction? This is one of the most vexing questions faced by home-based business owners.