startup: a new organization created to grow (and have employees).entrepreneurship: all new organizations.self-employment: an organization created primarily to provide income to the founders, i.e.These four concepts are often conflated.Their key differences can be summarized as: The concepts of small business, self-employment, entrepreneurship, and startup overlap but also carry important distinctions. Galleries tend to form clusters of small business owners over time. This includes the analysis of traditional accounting disclosures and studies that treat the firm as defined by a formal organizational structure.Ĭoncepts of small business, self-employment, entrepreneurship, and startup Portici di Sottoripa, Genoa, Italy. Because of this behavior, researchers and analysts may wish to be cautious in assessing the organizational types and implied boundaries relating to owner-managed firms. Lenders also often skirt organizational (corporate) boundaries by seeking personal guarantees or accepting privately held assets as collateral. However, owner-managers often do not distinguish between their personal and business interests. Researchers and analysts of small or owner-managed businesses generally behave as if nominal organizational forms (e.g., partnership, sole-trader, or corporation), and the consequent legal and accounting boundaries of owner-managed firms are consistently meaningful. On the other hand, other small businesses, such as day cares, retirement homes, and restaurants serving liquor are more heavily regulated and may require inspection and certification from various government authorities.Ĭharacteristics Small businesses in the Central Zone of São Paulo Some small businesses, such as a home accounting business, may only require a business license. Small businesses vary a great deal in terms of size, revenues, and regulatory authorization, both within a country and from country to country. Some professionals operate as small businesses, such as lawyers, accountants, dentists, medical doctors and developers (although these professionals can also work for large organizations or companies). Small businesses in many countries include service or retail operations such as convenience stores, small grocery stores, bakeries or delicatessens, hairdressers or tradespeople (e.g., carpenters, electricians), restaurants, motels, photographers, very small-scale manufacturing, and Internet-related businesses such as web design and computer programming. While small businesses can also be classified according to other methods, such as annual revenues, shipments, sales, assets, annual gross, net revenue, net profits, the number of employees is one of the most widely used measures. Small businesses range from fifteen employees under the Australian Fair Work Act 2009, fifty employees according to the definition used by the European Union, and fewer than five hundred employees to qualify for many U.S. The qualifications vary depending on the country and industry. Businesses are defined as "small" in terms of being able to apply for government support and qualify for preferential tax policy. Small businesses are types of corporations, partnerships, or sole proprietorships which have a small number of employees and/or less annual revenue than a regular-sized business or corporation. Small businesses on Dalrymple Street in Girvan, Scotland.
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