What is small business?

[jatin]

I often hear the term "small business," but I’m not entirely sure what qualifies as one. Is it based on the number of employees, revenue, or just being independently owned? Would love to hear how others define a small business.

 

[peterkavinsky]

A small business is an independently owned and operated company that typically has a limited number of employees and revenue compared to larger corporations. It serves local or niche markets, often focusing on personalized services or products, and plays a vital role in driving economic growth and innovation.

 

[brook]

Small business is a small scale business which has limited employees and investment. It mostly serves local customers. In simple terms, businesses like bakery, shop, boutique come under the category of small business.

 

[Mayank]

A small business is a privately owned enterprise with a limited number of employees, modest revenue, and localized operations. It typically serves a specific community or niche market, focusing on personalized service, flexibility, and sustainable growth opportunities.