A single-location restaurant, one grocery shop, or a retail shop to sell goods or services would all be examples of small business entrepreneurship. These people usually invest their own money and succeed if their businesses turn a profit, which serves as their income.

A small business owner typically starts a business within their local area to provide a service to a specific target audience. It's a fairly simple definition: Small business owners deliver specialized products or services to those who need it in a specific community.

It defines small business by firm revenue (ranging from $1 million to over $40 million) and by employment (from 100 to over 1,500 employees). For example, according to the SBA definition, a roofing contractor is defined as a small business if it has annual revenues of $16.5 million or less.