Small businesses are normally privately owned corporations, partnerships, or sole proprietorships. What businesses are defined as small in terms of government support and tax policy varies depending on the country and industry. Small businesses range from 15 employees under the Australian Fair Work Act 2009, 50 employees according to the definition used by the European Union, and fewer than 500 employees to qualify for many U.S. Small Business Administration programs. However, in 2006 there were over 18,000 small businesses with over 500 employees that accounted for half of all the employees employed by all small business. Small businesses can also be classified according to other methods such as sales, assets, or net profits.
Posted on: Sun, 30 Nov 2014 03:38:34 +0000
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