small business: meaning, definition, pronunciation and examples

A 'small business' is typically defined by its size (employees, revenue) and is often focused on stable, local growth. A 'start-up' is a newly established business, often technology-oriented, designed for rapid growth and scaling, potentially aiming to become very large. All start-ups are initially small, but not all small businesses are start-ups.

There is no universal number. Definitions vary by country and industry. In the US, the SBA often uses thresholds under 500 employees for manufacturing or under $7.5 million in revenue for many non-manufacturing sectors. In the UK, an SME is often defined as under 250 employees. It's always context-dependent.

Yes, it is used in both formal and informal contexts. Informally, it describes local shops or self-employment. Formally, it is a defined category in law, economics, and government policy with specific criteria for grants, loans, and regulations.

Absolutely. The 'small' refers to scale, not the nature of the marketplace. Many small businesses are primarily or exclusively e-commerce operations, serving national or even global markets while remaining small in staff and management structure.

A privately owned and operated company with relatively few employees and limited revenue, typically not dominant in its field.

Small business: in British English it is pronounced /ˌsmɔːl ˈbɪznəs/, and in American English it is pronounced /ˌsmɑːl ˈbɪznəs/. Tap the audio buttons above to hear it.