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Under the current SBA definition of a small business, you could have 1,500 employees and still be considered small. (Photo credit: Wikipedia) According to the United States Small Business Administrationâs (SBA) Office of Advocacy, 99.7 percent of all U.S. firms are small businesses.
Each companyâs socioeconomic status is also identified, i.e., small business (Small), HUBZone small (HUB), small disadvantaged business (SDB) or 8(a) business enterprise (8-a), woman-owned small business (WOSB), veteran-owned small business (VOSB), and/or service disabled veteran-owned small business (SDVOSB).