The many meanings of 'small'
How different agencies and marketers define a small business.
(FSB Magazine) -- Sometimes it's good to be small -- when it comes to ducking regulations, for instance, or applying for small-business loans. But different agencies and marketers define "small" in different ways. Here's a look at some of the thresholds that face a growing business.
Congratulations! You now must comply with the Fair Labor Standards Act.
From here on, you can't make hiring decisions on the basis of an applicant's citizenship, according to the Immigration Reform and Control Act.
$2 MILLION NET WORTH
In Alabama your legal liability is no longer limited to 10% of your net worth.
You now must provide your workers with 12 weeks of unpaid leave under the Family and Medical Leave Act of 1993.
This is the maximum size you can be to receive Arizona's tax credit designed to help small businesses provide health care to their employees.
25 DESKTOP COMPUTERS
You no longer fit Microsoft's definition of a small business, which means you won't be targeted for its small-business financing plans.
$10 MILLION GROSS ANNUAL REVENUES
You are no longer eligible to bid on small-business contracts through Connecticut's Office of Supplier Diversity.
You are no longer immune from lawsuits charging age discrimination.
You now must abide by the Pregnancy Discrimination Act, the Equal Pay Act, and the Americans With Disabilities Act.
$1 MILLION ANNUAL GROSS RECEIPTSclick here.