Small Business in America

The U.S. Department of State / Small Business Administration states:

“To be a small business, vendors must adhere to industry size standards established by the U.S. Small Business Administration (SBA) .

and

  • Is organized for profit
  • Has a place of business in the US
  • Operates primarily within the U.S. or makes a significant contribution to the U.S. economy  through payment of taxes or use of American products, materials or labor
  • Is independently owned and operated and is not dominant in its field on a national basis

The business may be a sole proprietorship, partnership, corporation, or any other legal form. In determining what constitutes a small business, the definition will vary to reflect industry differences – especially size standards.

Photo by Pixabay on Pexels.com

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