In the US it appears that millions are now small change.
when your small business grows and you become prosperous, do you still call your small business a small business???
![]() | Thank you for being a valued part of the CNET community. As of December 1, 2020, the forums are in read-only format. In early 2021, CNET Forums will no longer be available. We are grateful for the participation and advice you have provided to one another over the years. Thanks, CNET Support |
when your small business grows and you become prosperous, do you still call your small business a small business???
Discussion is locked
In the US it appears that millions are now small change.
Below you will find definitions that are used by the federal government. These were established back in the mid-nineties in order to determine whether such businesses could qualify for government projects.
Size alone is not the determinant for a successful business. (By these standards, size can either be by volume of revenues, or by number of employees.)
Real success can only be determined by you and your personal goal for success.
Keep these realities in mind; profitable growth and cash flow are reliable measures of your progress.
http://www.sba.gov/contractingopportunities/officials/size/GC-SMALL-BUS-SIZE-STANDARDS.html
Table of Size Standards
SBA has established a Table of Small Business Size Standards, which is matched to the North American Industry Classification System (NAICS) industries. A size standard, which is usually stated in number of employees or average annual receipts, represents the largest size that a business (including its subsidiaries and affiliates) may be to remain classified as a small business for SBA and Federal contracting programs. If a business exceeds the size standard for its overall industry group, it may still be a small business for its specific industry within that group; some industries have higher size standards than the general one for the industry group.
Hope this was helpful.