GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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According to the SBA, a small business is an independent business with fewer than ____ employees.
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10
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50
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100
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500
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Explanation:
Detailed explanation-1: -Meet size standards The SBA assigns a size standard to each NAICS code. Most manufacturing companies with 500 employees or fewer, and most non-manufacturing businesses with average annual receipts under $7.5 million, will qualify as a small business.
Detailed explanation-2: -A small business is generally a privately-owned enterprise with 500 or fewer employees. Depending on the industry, however, the maximum number of employees may be higher (or lower) and in some cases not matter at all. Some businesses are defined as “small” according to their average annual revenue.
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