A small business is a privately owned for-profit company that generates less revenue or employs fewer employees than larger companies. They can be structured as a sole proprietorship, partnership, LLC, or corporation and may qualify for government programs by adhering to size standards set by the Small Business Administration (SBA) — which vary by industry — when they register in the System for Award Management (SAM) and self-certify their status. They play a critical role in innovation and job creation and drive the economic resilience of local communities across the country.
What’s more, small businesses are closer to their customers and can offer a level of personalized service that is often the cornerstone of a strong brand. This can build loyalty and turn customers into advocates for the company.
Small businesses also have the advantage of lower overhead costs and greater flexibility in terms of budget, operations, and product offerings compared to large companies. This allows them to respond faster to market changes and take advantage of new opportunities.
However, starting a small business isn’t for the faint of heart. It takes hard work, perseverance, and sometimes even luck to make a business thrive. That’s why it’s important to keep up with the latest news and trends in small business, from crucial definitions to expert growth tips. We’ve rounded up the best of these stories to help you build your own successful business. From a consulting firm outside of Atlanta that helps other small businesses grow to a biological dentistry practice in Katy, Texas, that puts smiles back on patients’ faces and more, these are the real-life success stories you need to read.