If you’re interested in starting your own small business, there are many ways to go about it. The United States Small Business Administration (SBA) offers assistance and resources to start and run a small business. It also offers videos and other documents to help you learn more about the process.
In general, a small business enterprise is a business with 100 or fewer employees. A large enterprise is one with 250 or more employees. Some governments have adopted their own definitions of the small business. For example, the State of Connecticut defines a small business enterprise as one with revenues of $15 million or less.
In addition to the number of employees, there are other factors to consider when determining the size of a business. Some examples are the annual gross revenue, industry sector, or the level of activity.
However, as with any program, the definition of a small business can vary from government to government. For instance, the SBA has a 49-page PDF document called the Small Business Size Standards Matched to North American Industry Classification System Codes. This document helps companies determine whether or not they are small businesses.
The Occupational Safety and Health Administration (OSHA) has a rule that says that a company is small if it has less than 500 employees. However, the definition of a small business can be tricky.
In many cases, the same company may be classified as a large or small business depending on its location, the type of business, and the state. For instance, a company operating out of Florida might be considered a small business if it has a small number of employees and if it manufactures soft drinks.