Small business elements
What are the identifying elements of a small business?
Most small businesses:
- Are closely held, meaning their stock is not publically traded
- Are managed by the owners
- Have fewer than 10 employees
- Have no professional board of directors
- Are sole-proprietorships, partnerships, limited liability companies, or Sub Chapter S Corporations
- Have limited options for raising capital.
And finally, millions of small businesses have one employee: the owner and founder
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