USA HISTORY

Detailed explanation-1: -Big business grew in the late nineteenth century when new sources of power such as the steam engine, coal, and electricity drove the machines in larger factories that organized production under one roof. Companies could now mass produce standardized goods faster and more efficiently.

Detailed explanation-2: -Small businesses are an important economic engine for both local communities and the national economy. A widely cited 2019 report from the U.S. Small Business Administration found that small businesses generated 44% of all economic activity in the country.

Detailed explanation-3: -Big business involves large-scale corporate-controlled financial or business activities. As a term, it describes activities that run from “huge transactions” to the more general “doing big things". In corporate jargon, the concept is commonly known as enterprise, or activities involving enterprise customers.

Detailed explanation-4: -Small businesses contribute to local economies by bringing growth and innovation to the community in which the business is established. Small businesses also help stimulate economic growth by providing employment opportunities to people who may not be employable by larger corporations.