Small business,
Entrepreneurship and
franchises
4.1: Small business: a profile
“One which is independently owned and operated for profit and is not dominant in its
field.” – Small Business administration (SBA)
There are guidelines following specific “smallness” for industries (Table 4.1)
Keep in mind, profit is only a small percentage of sales. High number of sales does not
mean high profits.
Small businesses are essential in the economy. They create new jobs, and represent a
majority percentage of employer firms.
Moreover, they produce way more patents than large patenting firms.
o Greater level of entrepreneurial and creative spirit in small businesses
4.1.1: Small businesses sector
Entrepreneurship and
franchises
4.1: Small business: a profile
“One which is independently owned and operated for profit and is not dominant in its
field.” – Small Business administration (SBA)
There are guidelines following specific “smallness” for industries (Table 4.1)
Keep in mind, profit is only a small percentage of sales. High number of sales does not
mean high profits.
Small businesses are essential in the economy. They create new jobs, and represent a
majority percentage of employer firms.
Moreover, they produce way more patents than large patenting firms.
o Greater level of entrepreneurial and creative spirit in small businesses
4.1.1: Small businesses sector
