I hear these three terms used interchangeably, but in my mind, they all mean slightly different things. It’s semantics, of course, but here’s my take on what these three words mean. Which do you identify with the most?
Wikipedia: A small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses are normally privately owned corporations, partnerships, or sole proprietorships. The legal definition of “small” varies by country and by industry, ranging from fewer than 15 employees under the Australian Fair Work Act 2009, 50 employees in the European Union, and fewer than 500 employees to qualify for many U.S. Small Business Administration programs. Small businesses can also be classified according to other methods such as sales, assets, or net profits.
Me: In my mind, small businesses are those boutiques,