April 23, 2007
News & Opinion: This Week: National Small Business Week
This week is National Small Business Week. We are going to highlight some books for those out there is the small business world and those who want to be.
I figured we should start with the definition of a small business. This is from the Small Business Administration website:
A Small Business is one that:
- is organized for profit;
- has a place of business in the United States;
- makes a significant contribution to the U.S. economy by paying taxes or using American products, materials or labor; and,
- does not exceed the numerical size standard for its industry.
The business may be a sole proprietorship, partnership, corporation, or any other legal form.
SBA has several general Size Standards. A business in one of the following industry groups is small if it is not greater than the size standard indicated.
Industry Group Size Standard Manufacturing 500 employees Wholesale Trade 100 employees Agriculture $750,000 Retail Trade $6.5 million General & Heavy Construction (except Dredging) $31 million Dredging $18.5 million Special Trade Contractors $13 million Travel Agencies $3.5 million (commissions & other income) Business and Personal Services Except: $6.5 million >Architectural, Engineering, Surveying, and Mapping Services $4.5 million >Dry Cleaning and Carpet Cleaning Services $4.5 million
Now that you know where you stand, we can move onto the books.