What is Small Business and How to Set It Up Step by Step 1. What Is a Small Business? A small business is an independently owned and operated company that typically has a small number of employees, limited capital, and moderate revenue. It plays a crucial role in every economy — especially in countries like the United States, where small businesses create jobs, innovate, and strengthen local communities. Small businesses are usually started by individuals or families who want to provide goods or services on a local or niche scale. Examples include restaurants, retail shops, landscaping services, tutoring centers, bakeries, IT startups, or home-based online stores. In the U.S., the Small Business Administration (SBA) defines a small business based on industry type — for example: A manufacturing business with fewer than 500 employees. A retail or service business with annual revenue under $8 million. While these numbers can vary by country, the essence remains the same: a small ...
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