A small business is typically characterized by its smaller scale of operations, lower revenue, and fewer employees compared to larger corporations. Small businesses often operate in local or niche markets and play a significant role in driving economic growth and employment opportunities in many countries.
Small business could be a local bakery, owned and operated by a small team of bakers. They may serve their community by offering freshly baked goods, catering services, and specialty products. The bakery may have a small storefront and employ a handful of staff members, including bakers, sales associates, and administrative personnel. The owner of the bakery may be responsible for managing day-to-day operations, overseeing production, marketing the business, and ensuring customer satisfaction.