INTRODUCTION TO ENTREPRENEURSHIP
TYPES OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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true
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false
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Either A or B
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None of the above
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Detailed explanation-1: -Advocacy generally defines a small business as an independent business having fewer than 500 employees.
Detailed explanation-2: -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-3: -How Many Small Businesses Are There in the US? The latest statistics show that there are 33.2 million small businesses in the US, which account for 99.9 percent of all US businesses (SBA, 2022). The Small Business Administration (SBA) defines a small business as a firm that has fewer than 500 employees.