{"id":5139,"date":"2023-02-22T21:06:36","date_gmt":"2023-02-22T21:06:36","guid":{"rendered":"https:\/\/course.oeru.org\/ient101\/?page_id=5139"},"modified":"2023-02-22T21:06:36","modified_gmt":"2023-02-22T21:06:36","slug":"what-is-a-small-business","status":"publish","type":"page","link":"https:\/\/course.oeru.org\/ient101\/learning-pathways\/entrepreneurs-as-small-business-owners\/what-is-a-small-business\/","title":{"rendered":"What is a small business?"},"content":{"rendered":"<div id=\"content\" class=\"mw-body container\" role=\"main\">\n<div class=\"row\">\n<div class=\"col-md-12\">\n<div class=\"panel\">\n<div class=\"panel-body\">\n<div id=\"bodyContent\">\n<div id=\"mw-content-text\" lang=\"en\" dir=\"ltr\" class=\"mw-content-ltr\">\n<div class=\"floatright\"><a href=\"https:\/\/wikieducator.org\/File:Small_Businesses_-_geograph.org.uk_-_682645.jpg\" class=\"image\"><img loading=\"lazy\" decoding=\"async\" alt=\"Small Businesses - geograph.org.uk - 682645.jpg\" src=\"\/\/wikieducator.org\/images\/thumb\/d\/d7\/Small_Businesses_-_geograph.org.uk_-_682645.jpg\/300px-Small_Businesses_-_geograph.org.uk_-_682645.jpg\" width=\"300\" height=\"377\" class=\"img-responsive\"><\/a><\/div>\n<p>What is a small business?\n<\/p>\n<p>Let&#8217;s have a look at some definitions:\n<\/p>\n<ul>\n<li> Small businesses are privately owned corporations, partnerships, or sole proprietorships that have fewer employees and\/or less annual revenue than a regular-sized business or corporation<sup id=\"cite_ref-1\" class=\"reference\"><a href=\"#cite_note-1\">[1]<\/a><\/sup>.\n<\/li>\n<li> A privately-owned and operated business with relatively small turnover and staff numbers, typically seen as constituting part of a specific commercial or economic sector<sup id=\"cite_ref-2\" class=\"reference\"><a href=\"#cite_note-2\">[2]<\/a><\/sup>.\n<\/li>\n<li> Firms of a certain size which fall below certain criteria (that varies from country to country) in terms of annual turnover, number of employees, total value of assets, etc.<sup id=\"cite_ref-3\" class=\"reference\"><a href=\"#cite_note-3\">[3]<\/a><\/sup>\n<\/li>\n<li> A small business is one that is independently owned and operated, exerts little influence in its industry, and (with a few exceptions) has fewer than five hundred employees<sup id=\"cite_ref-4\" class=\"reference\"><a href=\"#cite_note-4\">[4]<\/a><\/sup>.\n<\/li>\n<\/ul>\n<p>So the definitions allow for a wide variety of businesses to be defined as small businesses, and criteria vary from one country to another.<br \/>\n<br style=\"clear:both;\">\n<\/p>\n<div id=\"Reading\" class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"reading\" src=\"https:\/\/course.oeru.org\/ient101\/wp-content\/themes\/oeru_course\/idevices\/Icon_reading.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Is a small business owner an entrepreneur?<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<p>Is every small business owner an entrepreneur and vice versa?\n<\/p>\n<p>Read this short article which outlines the differences. Remember don&#8217;t skip the readings, they are a required part of the course.\n<\/p>\n<ul>\n<li> <a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/www.entrepreneur.com\/article\/233919\">Are You a Small-Business Owner or an Entrepreneur? The Difference Is Important.<\/a>\n<\/li>\n<\/ul>\n<p>\n<b>WEnote<\/b>\n<\/p>\n<p>Let us know what you think of the article by posting a WEnote below, for example:\n<\/p>\n<ul>\n<li> <i>For me, the difference is &#8230;<\/i>\n<\/li>\n<li> <i>I was surprised to read that &#8230;<\/i>\n<\/li>\n<\/ul>\n<p>Post your comment(s) below and then look on the <a href=\"\/ient101\/interactions\/course-feed\" title=\"Introduction to entrepreneurship\/IENT101\/Feed\">course feed page<\/a> to see what others have posted.<\/p>\n<p><div><p>You must be logged in to post to WEnotes.<\/p><\/div><br \/>\nIf you prefer you can create a post on your learning journal blog. Be sure to label or tag your post IENT101.<br \/><i>Note: Your comment will be displayed in the <a href=\"\/ient101\/interactions\/course-feed\" title=\"Introduction to entrepreneurship\/IENT101\/Feed\">course feed<\/a>.<\/i><\/p>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<p>\n<\/p>\n<p><b>References<\/b>\n<\/p>\n<ol class=\"references\">\n<li id=\"cite_note-1\"><span class=\"mw-cite-backlink\"><a href=\"#cite_ref-1\">\u2191<\/a><\/span> <span class=\"reference-text\"><a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/en.wikipedia.org\/wiki\/Small_business\">Wikipedia<\/a><\/span>\n<\/li>\n<li id=\"cite_note-2\"><span class=\"mw-cite-backlink\"><a href=\"#cite_ref-2\">\u2191<\/a><\/span> <span class=\"reference-text\"><a rel=\"nofollow\" class=\"external text\" href=\"http:\/\/www.yourdictionary.com\/small-business#zzjk9wdAbko0DzHW.99\">Your Dictionary<\/a><\/span>\n<\/li>\n<li id=\"cite_note-3\"><span class=\"mw-cite-backlink\"><a href=\"#cite_ref-3\">\u2191<\/a><\/span> <span class=\"reference-text\"><a rel=\"nofollow\" class=\"external text\" href=\"http:\/\/www.businessdictionary.com\/definition\/small-business.html\">Business Dictionary<\/a><\/span>\n<\/li>\n<li id=\"cite_note-4\"><span class=\"mw-cite-backlink\"><a href=\"#cite_ref-4\">\u2191<\/a><\/span> <span class=\"reference-text\"><a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/www.sba.gov\/contracting\/getting-started-contractor\/qualifying-small-business\">US Small Business Administration<\/a><\/span>\n<\/li>\n<\/ol>\n<p><!-- \nNewPP limit report\nCPU time usage: 0.184 seconds\nReal time usage: 0.980 seconds\nPreprocessor visited node count: 186\/1000000\nPreprocessor generated node count: 1152\/1000000\nPost\u2010expand include size: 3965\/2097152 bytes\nTemplate argument size: 2016\/2097152 bytes\nHighest expansion depth: 7\/40\nExpensive parser function count: 0\/100\n--><\/p>\n<p><!-- Saved in parser cache with key we_en-mw_:pcache:idhash:181145-0!*!0!*!*!2!* and timestamp 20230222210634 and revision id 1026350\n -->\n<\/div>\n<div class=\"visualClear\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-md-12\">\n<ul class=\"pager\">\n<li class=\"previous\">\n            <a href=\"\/ient101\/learning-pathways\/entrepreneurs-as-small-business-owners\/video-signpost\">\u2190 Previous<\/a>\n          <\/li>\n<li class=\"next\">\n            <a href=\"\/ient101\/learning-pathways\/entrepreneurs-as-small-business-owners\/advantages-and-disadvantages-of-small-businesses\">Next \u2192<\/a>\n          <\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<div id=\"wenote-ids\"><script type='text\/javascript' id='wenotes-ids'>\n    var WEnotesSite = \"https:\/\/wikieducator.org\";\n    var WEnotesPath = \"\/Introduction_to_entrepreneurship\/IENT101\/Small_business\/Define\";\n    var WEnotesSiteID = \"0e3d258fbd36841f92259eefcd41d5e9\";\n    var WEnotesPathID = \"c8f1b14f0d84fb78fac7c25fcf5968f4\";\n    var WEnotesIDs = { site: \"https:\/\/wikieducator.org\", path: \"\/Introduction_to_entrepreneurship\/IENT101\/Small_business\/Define\", site_id: \"0e3d258fbd36841f92259eefcd41d5e9\", path_id: \"c8f1b14f0d84fb78fac7c25fcf5968f4\" };\n<\/script><\/div>\n<\/div>\n<footer><\/footer>\n","protected":false},"excerpt":{"rendered":"<p>What is a small business? Let&#8217;s have a look at some definitions: Small businesses are privately owned corporations, partnerships, or sole proprietorships that have fewer employees and\/or less annual revenue than a regular-sized business or corporation[1]. A privately-owned and operated business with relatively small turnover and staff numbers, typically seen as constituting part of a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":5133,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-5139","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/comments?post=5139"}],"version-history":[{"count":1,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5139\/revisions"}],"predecessor-version":[{"id":5140,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5139\/revisions\/5140"}],"up":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5133"}],"wp:attachment":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/media?parent=5139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}