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Define Small Business

I got this funny question today hehe. Well it’s not really a questions but still: Define small business! So I tried to gather few definitions of small business and here they are:[ad#ad-4]

A small business is a business that is independently owned and operated, with a small number of employees and relatively low volume of sales. …

A “small business concern” is defined by section 3(a) of the Small Business Act 15 USC 632(a) and implemented by the Small Business Administration under 13 CFR part 121, or any successor provisions. …

A business that is independently owned and operated that is not dominant in its field of operation, provided it has annual receipts not in excess of $500,000 and has fewer than 500 employees.

A designation for certain statutory purposes referring to a firm, corporation or establishment having a small number of employees, low volume of sales, small amount of assets or limited impact on the market.

within the context of commercial users of telecommunications services, a small business is any commercial entity whose telecommunications service fees generate revenues of less than $500 per month or $6,000 per year. …

is generally taken to be a manufacturing enterprise with fewer than 100 employees, or a non-manufacturing (service or retail) enterprise with fewer than 40 employees, in which owners retain independent ownership and control and make key management decisions.

small businesses are usually defined as those with fewer than 100 employees.

A small business is one which has a small number of employees, profit and/or revenue. Often these are owner-managed, with few specialist managers. …

For SEC purposes, small businesses are defined as domestic companies with revenues of under $25 million, and not investment companies. Subsidiaries of larger companies do not qualify as small businesses.

A business certified in accordance with requirements of subdivision (c) of GC Section 14837.

A business employing fewer than 20 full-time personnel ( ABS 2001). The terms ‘retailer’, ‘trader’ and ‘proprietor’ are used interchangeably in this report and all refer to a small business.

A business smaller than a given size as measured by its employment, business receipts, or business assets.

A business that has had less than $1.5 million in gross annual sales in the most recent calendar or fiscal year.

A ‘small business’ is a separate and distinct business entity, including cooperative enterprises and non-governmental organisations, which is managed by one or more owners and which predominantly carries on business in any sector or subsector of the economy.

I hope I answered to my friend saying: Define small business! :)

We also suggest this relevant article if you have time: Small Business


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