Small Business

A small business is a privately owned and operated company that typically has a small number of employees and relatively low volume of sales. The specific definition of what constitutes a small business can vary by country and industry, but it generally refers to enterprises that are independently owned, operated, and not dominant in their field. Small businesses are often characterized by their local focus, personalized customer service, and the ability to adapt quickly to changing market conditions. They play a crucial role in the economy by contributing to job creation, innovation, and competition. In many economies, small businesses are recognized as vital for fostering entrepreneurship and driving economic growth.