Theresa has always wanted to run her own small business so she went to pastry school and opened a bakery shop.
- A local bakery that employs 10 people is an example of a small business.
- A manufacturing facility that employees less than 500 people is an example of a small business. Source: SBA
small business - Investment & Finance Definition
An independently owned and operated business, whose owner(s) exercises close control over operations and decisions. The equity is not publicly traded and business financing is personally guaranteed by the owner(s). Typically, a small business employs fewer than 100 workers and has revenues of less than $25 million. It also isn’t dominant in its field. However, the definition of small business tends to vary. Federal securities law define small business as a company in the United States or Canada that has less than $25 million in annual revenues and whose outstanding publicly-traded stock is worth less than $25 million.
- Mature professional with small-business accounting knowledge seeking part-time employment with start-up firm or family-run establishment needing reliable, accurate and innovative financial management abilities.
- The Small Business Administration ("SBA") plays an important role in small-business financing.