This Is The Government’s Definition Of A Small Business?
Both presidential candidates say they want to help small businesses.
But would you ever imagine that could include a business with 1,500 employees?
Well, according to the Small Business Administration’s Office of Advocacy it can.
Check out this article called “The Government Definition of Small Business is B.S.” by Steve Cooper and learn how their definition could impact you as a small business owner…
“According to the United States Small Business Administration’s (SBA) Office of Advocacy, 99.7 percent of all U.S. firms are small businesses. Shocking, right? At least that’s what I thought when I was the research editor at another business publication many years ago. It’s no wonder that in order to get our economy back on track, Republicans and Democrats both argue in favor of tax reform and regulations that help these little guys compete with the big fish. There’s just one problem; depending on the industry, you could have 500, 1,000 or even 1,500 employees and still be considered a ‘small business.’”
“In general, nearly all businesses qualify with 500 employees (see SBA chart here). There are also certain industries that are capped by their average annual receipts, which I believe is closer to passing the smell test…”
Photo by Bert Kaufman
Related article
- 4 Little-Known Facts About Small Businesses In The U.S. (baybusinesshelp.com)
