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by Danny Bhai on August 7th, 2007
A small business may be defined as a business with a small number of employees. The legal definition of "small" often varies by country and industry, but is generally under 100 employees in the United States while under 50 employees in the European Union (In comparison, the American definition of mid-sized business by the number of employees is generally under 500 while 250 is for that of European Union). These businesses are normally privately owned corporations, partnerships, or sole proprietorships other parameters such us annual sales (turnover), assets value or net profit (balance sheet), such us annual sales (turnover), assets value or net profit (balance sheet) also counts.
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