Starting and running a small business requires a very broad skill set and nerves of steel. It’s not for everyone, and even successful entrepreneurs encounter failure from time to time. In order to help you stay ahead of the curve, FindLaw’s Small Business Law section covers everything from obtaining financing and hiring employees, to choosing the right insurance policies and filing taxes. Those who operate small businesses typically wear many different hats, but also must know when and how to seek help from others.
What Makes a Business a “Small” Business?
A small business owner may operate a convenience store, a plumbing service, a salon, a fast food franchise, or virtually any type of business in a given field. While there is no clear definition, small businesses share some common characteristics. They are independently owned and operated, organized for profit, and are not dominant in their field, as defined by