Question

tco a small business is defined as a company that

Answer 1

ANSWER:

A small business can be defined as a company that is independently owned and operated and not dominant in its field. In U.S, the legal definition of a small business is defined by the U.S. Small Business Administration that holds the responsibility to set the criteria to be used by the SBA in making small business determinations. The below given criteria is applied by the SBA to define a small business:

-- Manufacturing: The maximum number of employees can range in a bracket of 500 to 1500

-- Wholesaling: The maximum number of employees can range in a bracket of 100 to 500

-- Retailing: The total number of receipts annually may not exceed $5.0 to $21.0 million

-- Services: The total number of receipts annually may not exceed $2.5 to $21.5 million

-- Special Trade Construction: The total number of receipts annually may not exceed $7 million

-- General and Heavy Construction: The total number of receipts annually may not exceed $13.5 to $17 million

-- Agriculture: The total number of receipts annually may not exceed $0.5 to $9.0 million