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What is a Start up?
Start Ups by nature are companies or projects initiated by an entrepreneur to seek, effectively develop, and validate a scalable business model. We refer to Start Ups as any new businesses that intend to grow large beyond its founder(s). These companies are often initially bankrolled by their entrepreneurial founders as they attempt to capitalize on developing a product or service for which they believe there is a demand.
Average Number of Employees of Start ups:
Generally consist of 1 to 3 partners or investors
Typical Revenue of Start ups:
Between $10 Thousand and $1 Million
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What is a Micro Business?
A Micro-entity typically is a very small company or LLP. Internationally, most microenterprises are family owned businesses. Most microenterprise owners are primarily interested in earning a living to support themselves and their families. They only grow the business when something in their lives change and they need to generate a larger income. According to the Census.gov website, microenterprises make up 95% of the 28+ million US companies tracked by the census.
Average Number of Employees of Micro business:
Fewer than 10 employees (or their full time equivalent), including the owner
Typical Revenue of Micro Business:
Annual turnover or balance sheet no greater than $2 million.
What is a Small Business?
Small businesses are privately owned corporations, partnerships, or sole proprietorships that have fewer employees and/or less annual revenue than a regular-sized business or corporation. Depending on the industry some small business want to stay this size but the others that want to grow this can be difficult. Usually limited by size and /or revenue depending on the industry.
Average Number of Employees of Small business:
This varies by industry. A local bakery that employs 10 people is an example of a small business, while a manufacturing facility that employees less than 500 people is an example of a small business.
Typical Revenue of Small Business:
Less than $50 Million
What is a Medium Business?
Medium-sized businesses are defined within the Companies Act 2006 as a business with up to 250 employees. They may be family-owned and managed businesses but, by virtue of their size, they may also be complex entities where ownership is separated from management.
Average Number of Employees of Medium business:
Less than 250 employees
Typical Revenue of Meduim Business:
More than $50 Million but less than $1 Billion
What is a Large/Mega Business?
What is a Large/Mega Business?
Although Small and medium businesses make up a large percentage of American owned businesses, approximately 50% of the working population are employed by a large or mega business. Typically, these businesses have complex organizational charts with multiple levels of management. Also, they often have a dominant influence over a very large market.
Average Number of Employees of Large/Mega: 1000 employees or more
Typical Revenue of Large/Mega: > $10 billion
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