Milwaukee has introduced their new Key Chain Tape measure, the new tape measure features Nylon Blade Protection for resistance to jobsite contamination and It may be tiny, but it is fierce with a 5 point reinforced frame to protect it when you drop it on the floor. 
This little guy will be available in February 2016.
Talk about little but convenient, it also has a belt clip so you can take it anywhere.
Update
We got a chance to play with the compact tape measure and posted it on our Instagram site. Our only complaints coming in across the board is that is seems to bend too easily for some people’s liking. If you don’t have any issues with that, this compact tape measure could be perfect compact solution you may be looking for.