What classifies a business as “small”?

Re: What classifies a business as “small”?

Thanks for sharing the information but can someone tell if it is the same for UK?

Joe Forest

Re: What classifies a business as “small”?

Hello friends

The classified af small business there is no "official" certification process that determines a small business. It is a self-certifying and paperless procedure. The U.S. Small Business Administration (SBA) uses the North American Industrial Classification System (NAICS) in determining size standards; which as of October 1, 2000, replaced the Standard Industrial Classification (SIC) Codes. To see if your business is considered small by the federal government, or to determine which NAICS Code(s) is applicable to your business,

Thanks to all friends ....

Re: What classifies a business as “small”?

A business anxiety is defined as a commercial or industrial enterprise and the people who constitute it. To qualify as a small business concern, the Small Business Act states that your business must be:

* separately Owned and worked
* Not Dominant in its Industry Nationwide
* organized for Profit
* Located in the United States
* for the most part Focused on Operations in the United States
* Contributing to the U.S. Economy through Taxes
* Using American Products, Materials, or Labor

Best Regards,

Re: What classifies a business as “small”?

Very good to know. Thank you for asking that quetion, and for the helpful replies.