What qualifies a business as a "small business"?

The Small Business Act states that a small business concern is "one that is independently owned and operated and which is not dominant in its field of operation." The law also states that in determining what constitutes a small business, the definition will vary from industry to industry to reflect industry differences accurately.

In general, according the U.S. Small Business Administration, the following are considered small business:

Wholesale Trade: 100 employees or less
Manufacturing and Mining Industry: 500 employees or less
Retail/Service Industry: $6 million or less in sales
General and Heavy Duty Construction Industry: $28.5 million or less in sales
Special Trade Contractors: $12 million or less in sales
Agriculture Industry: $.75 million or less in sales

 

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