Engine of Change: Rise of Micro-Businesses
E‑business platforms like Shopify and Etsy have turned anyone with an internet connection into a global entrepreneur. The numbers are staggering:
- Over 1 million online stores on Shopify in Canada and the US alone.
- More than 8 million active sellers on Etsy worldwide (2024).
- Shopify shoppers grew from 57 million to 700 million in just eight years.
This growth is driven by younger generations – Millennials and Gen Z – who are both the most active online shoppers and the most likely to start their own e‑businesses. As they age, their habits will become the norm.
Starting an e‑business today is as easy as signing up for an app. Platforms handle payments (Stripe), shipping, and even AI‑powered advertising. What used to take years of planning can now be done in hours.
How to start your own micro‑business
- Choose a platform (Shopify, Etsy, Amazon).
- Set up payment processing.
- List your products with photos and descriptions.
- Use social media and AI tools to advertise.
- Ship orders – the platform connects you to shipping partners.
Figure 1 below shows the explosive growth of Shopify shoppers:
As visualized in Figure 1, the Shopify shoppers exploded from 57 million to 700 million in just eight years. This massive growth demonstrates that the growth is not just consistent but accelerating.