Greg Wolejko wrote a post giving reasons why to jump in the Microformats wagon for entrepreneurs and business owner. Some really good reason and I’m more than happy to see more conversations going on about Microformats in a business way. It’s too often only geeky stuff.
Better markup – more meaningful markup allowing more semantic info to be added, enhancing quality of your site.
Saves time – Microformats are standardized ways of adding markup to a specific kinds of informations (events, contact information, blog posts) and therefore remove the need of coming up with own markup thus saving time.
Staying ahead of competition – the whole Semantic Web thing just gains momentum so using Microformats is the new cool thing to do (look at BBC or Yahoo or even last.fm).
Provide value – easy to use as changes are only done in the presentation layer (read: HTML markup) but benefits go beyond adding enhanced markup.
I will also add that Microformats and Web Semantic help you build future proof websites, which is for any company with already an aging website a concern.