Posted by: A. C. Cockerill | August 13, 2012

Factoid #29: Small Business Defined?

Factoid #29:

The criteria for what defines a small business vary widely. The consensus appears to be that the company must have fewer than 500 employees and less than $10 million in receipts.

My two cents (but please share yours):

We frequently hear that small businesses account for about 70% of the jobs in this country.Β This is probably close to the truth, but I have not yet found an unbiased source to get data I can trust.

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Responses

  1. this stat is reasonable. it’s only at my last job, the current one, is there more than 500 staff (this place has 100,000 employees). so I’m not surprised. Plus as an entrepeneur, I know small.

    • Thank you so much, Louise. Cheers, Ashley

  2. That just doesn’t seem so small. With few exceptions most of my jobs have been with companies of less than 20 (heck, 10!) employees, and an annual income of $750,000. LOTS of these around the country, keeping people employed for their entire life if they want to stick with the job. 500 employees? I get hives working in those companies!!

    • You’re absolutely right, Mona. Many of the small businesses in this country are microbusinesses. Of course, I’m waiting for economists to start talking about nanobusinesses and picobusinesses. πŸ™‚ Cheers, Ashley


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