INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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By definition, a small business
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has only one location.
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has only one employee.
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has fewer than 500 employees.
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must have at least three employees.
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Explanation:
Detailed explanation-1: -What is a small business? A small business is an independently or privately owned and operated company with fewer employees or less revenue than other businesses within a business’s particular industry. In general, you can define a small business as one with fewer than 500 employees.
Detailed explanation-2: -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.
Detailed explanation-3: -The Small Business Administration (SBA) defines a small business as a firm that has fewer than 500 employees.
There is 1 question to complete.