IT planning and evaluation is the systematic process which helps to achieve organizational goal and objectives. There are significant numbers of research available related to IT adoption in businesses and still it is carrying out by researchers for the betterment of business. IT has several different advantages and almost everyone is getting benefits from IT in different ways. Now IT has become an indispensable part of our daily life and our business strategies. Successful implementation of IT in different domains at enterprise level such as healthcare, education, E-governance makes improves businesses more productive, efficient and provides competitive advantages. It also becomes the cause of wide spreading of associated benefits to a large portion of community. Business improvement using IT in large enterprise and SMEs encouraged researchers and practitioner to think about IT planning/strategy in low level business domains. Under this emerging thinking, this research presents a cost effective IT strategy and model for microenterprise. Although formerly some of the empirical study based work carried out in this context, but a generalized, theoretical and specifically cost effective IT strategy and model for microenterprise is not yet presented. This paper proposed cost effective IT strategy for microenterprise so that very small business unit of our community (called microenterprise) also take advantages of IT without worrying about affordability issues which is the fundamental hindering factor of IT adoption in microenterprise. Further this work also addressed the issue of microenterprise`s unawareness regarding IT adoption, IT benefits and IT skills and provides a theoretical and foundational solution for this another IT adoption`s impeding factor.