Small businesses are normally privately owned corporations, partnerships, or sole proprietorship's. What businesses are defined as "small" in terms of government support and tax policy varies depending on the country and industry. Small businesses range from 15 employees under the Australian Fair Work Act 2009, 50 employees according to the definition used by the European Union, and fewer than 500 employees to qualify for many U.S. Small Business Administration programs. However, in 2006 there were over 18,000 "small businesses" with over 500 employees that accounted for half of all the employees employed by all "small business". Small businesses can also be classified according to other methods such as sales, assets, or net profits.
Small businesses are common in many countries, depending on the economic system in operation. Typical examples include: convenience stores, other small shops (such as a bakery or delicatessen), hairdressers, tradesmen, lawyers,accountants, restaurants, guest houses, photographers, small-scale manufacturing, and online businesses, such as web design and programming, etc.
Starting a business requires a significant investment. If you have a low start-up budget, however, you can focus on investing your time and talents rather than significant amounts of money. To enjoy the best chance of success with little financial investment, choose a business you can start on a shoestring budget.
