Legal Definition of small business : an independently owned and operated business that is not dominant in its field of operation and conforms to standards set by the Small Business Administration or by state law regarding number of employees and yearly income — called also small business concern

small business [ smawl- biz-nis ] SHOW IPA noun a profit-seeking enterprise or concern that is independently owned and operated, has a limited number of employees, and is not nationally dominant in its field.

A small business is a privately owned and operated business. A small business typically has a small number of employees. In the United States, the legal definition of a small business is determined by the U.S. Small Business Administration (SBA), which sets the criteria to be used by the SBA in making small business ...

small business: an organization that is small (in employees or revenue) and may or may not have the intention to grow. Many small businesses are sole proprietor operations consisting only of the owner, but many also have additional employees. Some small businesses that offer a product, process or service, do not have growth ...

Small business is defined as a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business. The definition of "small"—in terms of being able to apply for government support and qualify for preferential tax policy—varies by ...