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CHAPTER 4 - CHAPTER 4 A small business= business that is...

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CHAPTER 4 A small business= business that is independent and that has relatively little influence in its market and it has fewer than 500 employees. The U.S. Small Business Administration (SBA) is a government agency that assists small businesses, regards some companies with as many as 1,500 employees as small, but only if the business has relatively low annual revenues. Contribution of small businesses: job creation, innovation, and contributions to big businesses. Most of the products made by big businesses are sold to consumers by small small ones. For example, most dealerships that sell Toyotas and Volvos are independently operated. Smaller businesses also provide data storage services to large businesses. Moreover, small businesses also provide big ones with many of their services and raw materials. For instance, Microsoft relies on hundreds of small firms for most of its routine code- writing functions. The major small-business industry groups are services, retailing, construction, wholesaling, finance and insurance, manufacturing and transportation.
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