What is a Small Business? What is a Micro Business?
“A ‘small business,’ also called ‘mom and pop store’ by some in the United States, 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. “- Wikipedia So often you hear the terms “small business” and “micro business” thrown around like everyone understands what constitutes these two separate types of businesses. Exactly how small is a “small business?” Is it 50 employees? Is it 10 employees? What is it?! It’s important to mention that the legal definition of “small” is going to vary from country to country and by industry, so we’ll only be focusing on the United States for now. Politicians are probably the most guilty of…
