I am looking for a word that describes individual economic activity in third world countries that supports a person and his family's livelihood. Imagine a fisherman who sells his catches on the streets of Dar es Salaam, someone who sells bracelets to tourists on Cape Town beaches or a barber who cuts people's hair on sidewalks in Hanoi. Is there a term for this type of informal business?
Such a business is typically:
- very small in terms of income and expenses
- not registered or regulated
- often not in a permanent location
- run by poorer parts of society in third world countries
The word 'sole proprietorship' is not precise enough, because it does not convey the informalness of the business. I did not choose 'informal business' either, because that just means that income is generated off the books and would include large illegal gambling or drug business.