A business that is independently owned and operated, is not dominant in its field of operation, and meets certain standards of size in terms of employees or annual receipts is a(n):

The SBA defines a small business as one that is independently owned and operated, not dominant in its field of operation and meets certain standards of size in terms of employees or sales.
Small business is defined as a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business.

4 types of small business

Sole proprietorship,
Partnership,
Corporation, and
Limited Liability Company, or LLCR

After agriculture, small businesses are the second largest employment provider in the Indian economy. In comparison to big corporations, small businesses generate the most number of employment opportunities per unit of capital invested. Therefore, they are the second largest generators of employment in human resource.

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