Small business definition
How do I know if I qualify as a small business?
If you have a business and have to ask this question, you're a small business.
Technically, if you have fewer than 500 employees, the SBA says you're probably a small business. There are also sales volume standards, but they vary by industry.
The primary reason you would even want to have any kind of small busines designation is if you were trying to do business with the federal government or one of its contractors, and your part of any contract would help that organization achieve their small business quota.
Otherwise, being a small business is a distinction that you should own and be proud of. You are a member of the largest sector in the marketplace in gross domestic production, employment, innovation, number of exporters, and many other areas.
If you're a small business owner, you're very important.
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