An economic sector that is very common in LVC countries and consists of enterprises having the following characteristics among others : small scale of operation, easy entry into the market, reliance on local resources, family rather than corporate ownership, staff skills acquired outside the formal school system or on-the-job, ability to operate in an unregulated and competitive market.
Used in various ways, sometimes interchangeably with the terms shadow economy, hidden economy, black market, and parallel economy. In enterprise development, the term usually refers to small, unregistered firms operating below the level of taxing and regulatory monitoring.
casual, irregular work, e.g. street selling.