small business

Definition of "small business"
  1. A business enterprise that operates independently, is not influential in its industry, and meets certain criteria determined by the Small Business Administration or state law in terms of employee count and annual earnings
How to use "small business" in a sentence
  1. To qualify as a small business, a firm cannot be leading its industry and must meet specific annual earnings and employee count standards.
  2. Many funding programs are available specifically for small businesses that meet the set standards in terms of employee numbers and yearly income.
  3. Due to its minimal workforce and annual income, the local bakery is classified as a small business.

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