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What Is a Small Business?

Jerome S. Osteryoung and Derek Newman
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Jerome S. Osteryoung: Florida State University
Derek Newman: Lincoln University, Canterbury

Journal of Entrepreneurial Finance, 1993, vol. 2, issue 3, 219-231

Abstract: This paper argues that a definition of small business is important for both research and governmental policy. A chronological history of definitions is discussed along with their limitations. A new definition of small business is advocated when a business has personal guarantees and has no public stock. This definition is measurable, meaningful, and congruent with the perceptions of the market system.

Keywords: Small Business; SME; Definition; Define (search for similar items in EconPapers)
JEL-codes: L25 N81 N82 (search for similar items in EconPapers)
Date: 1993
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