Small business
Small business is defined as a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business.
A small business could be any company, restaurant, or retail store that is launched by a founder, without any intention of growing the business into a chain or conglomerate. Small business entrepreneurs usually invest their own money to get their companies off the ground, and they only make money if the business succeeds.
Features of small business
• Small business entrepreneurs focus initially on a single product, market, or locality
• Most small businesses are either self-funded or funded through small business loans
• The initial goal of small business entrepreneurs is to make a profit,
Challenges of small business
• Capital, funding
• High rate of competitors
• How to maintain good reputation for their product
• Cybercrimes
• Marketing
• Bankruptcy
Advantage of small of business
• independence
• administrative process is not cumbersome
• the accounting report is less
Thank you for reading. I remain your able Coach CEO @Fabrics by Yemia

Thanks. Very insightful

Quite Educative

Thanks coach

You said very well that the advantages of having a small business are: independence, administrative process is not cumbersome, and the accounting report is less. However, let's not forget about the problems of having or even starting a business. Thanks to bizop articles we know all of that and people who are beginners in owning a business can check and learn about all of that and only after this make the decision of creating one or not.