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A small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses are normally privately owned corporations, partnerships, or sole proprietorships. The legal definition of "small" varies by country and by industry. In the United States the Small Business Administration establishes small business size standards on an industry-by-industry basis, but generally specifies a small business as having fewer than 500 employees for manufacturing businesses and less than $7 million in annual receipts for most nonmanufacturing businesses. In the European Union, a small business generally has under 50 employees. However, in Australia, a small business is defined by the Fair Work Act 2009 as one with fewer than 15 employees. By comparison, a medium sized business or mid-sized business has under 500 employees in the US, 250 in the European Union and fewer than 200 in Australia. In addition to number of employees, other methods used to classify small companies include annual sales (turnover), value of assets and net profit (balance sheet), alone or in a mixed definition. These criteria are followed by the European Union, for instance (headcount, turnover and balance sheet totals). Small businesses are usually not dominant in their field of operation. Small businesses are common in many countries, depending on the economic system in operation. Typical examples include: convenience stores, other small shops (such as a bakery or delicatessen), hairdressers, tradesmen, lawyers, accountants, restaurants, guest houses, photographers, small-scale manufacturing etc. The smallest businesses, often located in private homes, are called microbusinesses (term used by international organizations such as the World Bank and the International Finance Corporation) or SoHos. The term "mom and pop business" is a common colloquial expression for a single-family operated business with few (or no) employees other than the owners. When judged by the number of employees, the American and the European definitions of a microbusiness are the same: under 10 employees. There is a notable trend to further segment different-sized microbusinesses; for instance, the term Very Small Business is now being used to refer to businesses that are the smallest of the smallest, such as those operated completely by one person or by 1-3 employees. From Wikipedia under the
GNU Free Documentation License What do small business owners have to do? Q. What kind of small business owner are you? What do you specialize in? What do you have to do on a typical day? How is your job related to the law? What are the educational requirements to become a small business owner? Why did you become a small business owner? How long have you been one? What do you enjoy about being a small business owner? What's challenging about it? What advice would you give to someone who wanted to run their own small business? Asked by Tiffany - Fri Jun 5 15:11:24 2009 - - 1 Answers - 4 Comments A. You ask a lot of really good questions that would take HOURS to answer. Here are several links from the SBA which should help you Answered by jwishz - Wed Jun 10 15:03:21 2009 How do small business make money on shipping? Q. Hi, I'm working on a small business plan for an online shop. I hear that shipping is where profits can be made. I haven't researched the shipping portion yet of my business idea. 1. How do you sign up for discount shipping programs with shippers? Can small business benefit from shipping programs? 2. How do you set up the shipping cost structure so that the business owner is able to make money off of the shipping component of the business? 2. How is that possible? Asked by Jmo - Wed Sep 12 11:24:12 2007 - - 1 Answers - 2 Comments A. Just charge more for shipping to the customer than it actually costs you. You can use it as a buffer income because you will always have something that you needed that wasnt in the budget. Answered by jzalesky@att.net - Wed Sep 12 12:27:38 2007 What is the best way to Market small business?
Q. I operate a small web design business. What would be the best way to market for potential clients? My target audience is small businesses, home-based businesses and independents, what is the best way to target these groups? Asked by D V 2 - Thu May 31 21:28:16 2007 - - 4 Answers - 0 Comments A. Depending on your time and skill. You could do some quick makeovers to a select few small business owners that you would like to work with. Contact them via snail mail sending them a photo of their revamped homepage and tell them to contact you for more information. Wait a few days then contact them Note don't makeover sites that already look great. Start with the duds. The ones that look like a 3rd grader put together When you get a few appointments have them sign a contract with a clause near the end that they initial stating that if you do a great job that they will introduce you to 3 other colleagues. Explain to them that's how you maintain your business and that you only expect them to tell their colleagues if you've done a great… [cont.] Answered by nightowlmktg - Fri Jun 1 02:20:28 2007 From Yahoo Answer Search: "small business"
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