SMALL BUSINESS Meaning and
Definition
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A small business refers to a company or enterprise that is characterized by its size, scale, and operational scope. It is usually privately owned and operated, encompassing a relatively small number of employees, limited resources, and a local or regional market reach. The specific definition of a small business may vary across countries and industries; however, certain common criteria are widely accepted.
In general, a small business is characterized by its size, often measured by factors such as annual revenue, total assets, or number of employees. These thresholds can differ, but they commonly cover companies with fewer than 500 employees in the United States and those with fewer than 50 employees in the European Union.
Small businesses play a significant role in economies worldwide, promoting entrepreneurship, innovation, and job creation. They often serve specific niches, providing goods or services to their local communities or target markets. While small businesses may face challenges due to limited resources, they also benefit from greater flexibility, adaptability, and the ability to build strong relationships with customers.
Due to their relatively smaller scale, small businesses may also have simplified administrative requirements and less bureaucracy compared to larger corporations. They are commonly regarded as key contributors to economic growth, fostering local development, and providing opportunities for individuals to pursue their entrepreneurial ambitions.
Common Misspellings for SMALL BUSINESS
- amall business
- zmall business
- xmall business
- dmall business
- emall business
- wmall business
- snall business
- skall business
- sjall business
- smzll business
- smsll business
- smwll business
- smqll business
- smakl business
- smapl business
- smaol business
- smalk business
- smalp business
- smalo business
- small vusiness
Etymology of SMALL BUSINESS
The term "small business" originated from the Old English word "smael" meaning "small, little, or narrow". The word "business" comes from the Middle English word "bisignes", which referred to "care, anxiety, occupation, or trade". Over time, the combination of "small" and "business" came to be used to describe enterprises that were smaller in size, scope, or capital investment in comparison to larger corporations or companies. The term became more widely used in the 20th century to differentiate these small-scale enterprises from larger ones.
Similar spelling words for SMALL BUSINESS
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