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Thu Nov 2, 2017, 08:27 PM

What is the definition of a small business??

12 replies, 1434 views

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Arrow 12 replies Author Time Post
Reply What is the definition of a small business?? (Original post)
Angry Dragon Nov 2017 OP
GP6971 Nov 2017 #1
Angry Dragon Nov 2017 #3
GP6971 Nov 2017 #7
Angry Dragon Nov 2017 #9
GP6971 Nov 2017 #11
Angry Dragon Nov 2017 #12
CK_John Nov 2017 #2
Angry Dragon Nov 2017 #4
canetoad Nov 2017 #5
bluepen Nov 2017 #6
Angry Dragon Nov 2017 #8
bluepen Nov 2017 #10

Response to Angry Dragon (Original post)

Thu Nov 2, 2017, 08:33 PM

1. By Federal Standards? n/t

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Response to GP6971 (Reply #1)

Thu Nov 2, 2017, 08:36 PM

3. yes

the term is bandied about so there must be definition

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Response to Angry Dragon (Reply #3)

Thu Nov 2, 2017, 08:48 PM

7. It's determined by the Small Business Administration

using the NAICS code (North American Industry Classification System). According to the code the business uses to describe it's business, it could be either total annual sales dollars or number of employees.

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Response to GP6971 (Reply #7)

Thu Nov 2, 2017, 11:58 PM

9. seems very arbitrary

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Response to Angry Dragon (Reply #9)

Fri Nov 3, 2017, 12:11 AM

11. Actullay it's not

It took me a long time to understand the logic, but it actually works.

Go figure...federal gov't.

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Response to GP6971 (Reply #11)

Fri Nov 3, 2017, 12:17 AM

12. At this point I take your word for it

unless you would like to explain it to us

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Response to Angry Dragon (Original post)

Thu Nov 2, 2017, 08:34 PM

2. Less than 500 in us, less than 50 in Australia.

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Response to CK_John (Reply #2)

Thu Nov 2, 2017, 08:36 PM

4. doesn't seem very small to me

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Response to CK_John (Reply #2)

Thu Nov 2, 2017, 08:44 PM

5. Here's the official definitions

The Australian Taxation Office defines a small business as one that has annual revenue turnover (excluding GST) of less than $2 million. Fair Work Australia defines a small business as one that has less than 15 employees.

http://asic.gov.au/for-business/your-business/small-business/small-business-overview/small-business-what-is-small-business/

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Response to Angry Dragon (Original post)

Thu Nov 2, 2017, 08:48 PM

6. It varies by industry, according to the Small Business Administration.

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Response to bluepen (Reply #6)

Thu Nov 2, 2017, 11:56 PM

8. seems very arbitrary

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Response to Angry Dragon (Reply #8)

Fri Nov 3, 2017, 12:03 AM

10. Not really.

https://www.sba.gov/sites/default/files/size_standards_methodology.pdf

There’s 61 pages explaining their methodology. That is, if you want to wade through typical bureaucratic bs.

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