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A small business is a for-profit, independently owned and operated business entity that does not dominate its field. The size of the business factors in, but is based on industry and income generated over a specific period of time.


Although the percentage varies depending on the length of time a new business is open and the industry it is in, the average consensus is that about 50 percent of businesses fail within the first four years of being in business.


An entrepreneur can start a small business by preparing a business plan, choosing and registering a business name, getting a tax identification number and applying for a business license or permit. An entrepreneur must open a business account and create an accounting sy...


Entrepeneurs looking to start a small business may find success in several industries projected to grow rapidly as of 2015, such as food e-commerce, gamification software for businesses, agricultural software and public sector technology. Starting a small business carri...


The first step to running a successful small business is to make sure you are passionate about your business idea. Next, select a good business location, keep track of your finances, and choose your employees wisely. Offer products and services that have a high profit m...


Close a small business by getting expert advice, filing dissolution documents, and canceling registrations, permits, licenses and business names. Also, comply with employment and labor laws when closing the business and resolve any financial obligations.


There are hundreds of small business ideas, including accounting, pet sitting, virtual assistants, computer repair, eBay sellers and app developers. More than half of the businesses in the United States are small or home-based businesses, as stated by the U.S. Small Bus...