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Apr 20, 2020 • 13 tweets • 8 min read
There are 30.7M small businesses in the U.S. which account for 99.9% of all U.S. businesses (SBA, 2019)
SBA defines a #SmallBusiness as a firm having fewer than 500 employees.
This means that many highly valued startups in the U.S fit within this definition of small businesses.
The definition of a #SmallBusiness varies across the world.
For comparison, in the European Union any business that has fewer than 50 employees is considered a small business.
In Australia, companies with fewer than 15 employees are considered small businesses.