Small-business meaning

The definition of a small business is an independently owned and operated company that is limited in size and in revenue depending on the industry.

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.

noun
14
2
A privately-owned and operated business with relatively small turnover and staff numbers, typically seen as constituting part of a specific commercial or economic sector.
noun
4
0
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.
4
1
Advertisement