Building a Small Business

building a small business

Building a small business can be an exciting and rewarding experience. These enterprises can often be more agile and innovative than larger companies. They may also be more likely to focus on customer service. However, there are many things to keep in mind when building a small business. One of the most important aspects is determining what kind of business you want to build. This will help you to more sensibly assess potential purchases and will provide a good steer for any advisers you might employ.

The exact legal definition of a small business differs from country to country. In the United States, for example, a small business is generally considered to be an enterprise with fewer than 500 employees (although the number can vary by industry). Small businesses must also fulfill size standards set by their respective industries in order to qualify for government grants and loans.

Buying a business is an exciting venture, but it can be difficult to find and evaluate the right business. Nolo takes you through the entire process of buying a business, from finding and evaluating the right business to closing the transaction.