ENTREPRENEURSHIP

Detailed explanation-1: -It defines small business by firm revenue (ranging from $1 million to over $40 million) and by employment (from 100 to over 1, 500 employees). For example, according to the SBA definition, a roofing contractor is defined as a small business if it has annual revenues of $16.5 million or less.

Detailed explanation-2: -In the U.S., the Small Business Administration (SBA) classifies a small business according to its ownership structure, number of employees, earnings, and industry. 1 For example, in manufacturing, an SME is a firm with 500 or fewer employees.

Detailed explanation-3: -In small and medium-sized enterprises (SMEs) employ fewer than 250 people. SMEs are further subdivided into micro enterprises (fewer than 10 employees), small enterprises (10 to 49 employees), medium-sized enterprises (50 to 249 employees). Large enterprises employ 250 or more people.

Detailed explanation-4: -Small business is defined as a business that has a limited number of employees, typically fewer than 500, and operates independently of larger corporations. Small businesses are typically privately owned and operated and have a single owner or a small group of owners.