Why it matters to you and your community.
But, how small is small?
The definition of a small business varies drastically depending on which organization, group, or government agency you ask. Generally, though (and the SBA leaves lots of wiggle room), it is an independently-owned business with fewer than 500 employees that earns less than $1 million per year in combined revenue and sales, Fundera. In the U.S., there are 28 million small businesses. And, “small biz” makes up the vast majority (99.7%) of America’s total number of businesses. It is said that the United States’ economy couldn’t survive without small businesses.