Small Business Receipts

Small Businesses often need help with government contracting to grow and expand their market share in a given market. The Small Business Administration (SBA) provides technical assistance for companies that wish to acquire, manage, and successfully market government contracts. Also, the SBA can provide counseling concerning many facets of small business law. The SBA also serves as an advocate for the economically disadvantaged business people (usually small businesses that are not corporations) who wish to apply for federal programs designed to assist those companies. For more information on applying for government contracts or advising the government about grant programs, contact your local SBA office. Alternatively, visit the SBA’s website.

Frequently Asked Questions (FAQs) about Small Business is commonly published by companies that do business or provide advice on behalf of other small firms. Also, FAQs are frequently asked by those in government who are responsible for small business policies and programs. The Federal Procurement Action Guidebook is one such book. The book’s FAQs describe the legal obligations and benefits that a small firm can receive if it obtains federal government contracts. The book also explains the different types of contract programs that are available to small firms and outlines the process for obtaining federal contracts.

Generally, the definition of a “small business” is a business that has fewer than 1,500 employees when it is undergoing operations. In terms of the number of employees, that number can vary from one agency to another. In some instances, the definition will be based on the net number of employees when the company first begins operations. The definition of “substantial operation” also can vary among agencies. A small business’s gross sales figure, for example, can be used as the basis for determining the number of employees for purposes of establishing a reasonable size definition. (The Bureau of Labor Statistics offers a similar definition of small businesses and is available from their website.)

The Bureau of Labor Statistics offers an employee count tool that allows a business owner to determine the number of employees the business actually has. The tool is available on the website for downloading and uses the U.S. Census’s Standard Industrial Classification (SIC) code list. The SIC codes allow for a more detailed analysis of employment trends. For this discussion, however, smaller firms should use the simplified version of the net jobs subindex, which is the Bureau of Labor Statistics’ index of employer firms, instead of the enumerated index. This simplified index is based on net jobs divided by sector, industry, and geographic location.

To define the size of a small business, many people fail to consider the effect of ownership and control on growth. The largest companies in the world have one owner, a board of directors, and a centralized business structure. All of these factors work to benefit one chief factor: profit. The business is run to enhance profit. Ownership and control are transferring to achieve this goal. The businesses with one, two, or three owners, operate in much the same way as many larger businesses, concentrating on selling products and services, and using the profits to expand and grow.

The number of employee shares held by owners varies greatly depending on their investment in the company. A small business can have one or few employee shares owned by fewer than ten shareholders. Large businesses with hundreds of employees may have hundreds of thousands of shares owned by a few shareholders.

The size definition for a U.S. company can also include its relationship with other international competitors, including how closely they are dependent on the United States for market access, infrastructure, and trade. Many international firms choose to outsource jobs, especially in emerging markets, where they may not have access to the same benefits as they currently do. Outsourcing has become a popular strategy because it allows a company to tap into a lower-cost source without sacrificing quality. Outsourcing can create jobs in the United States as well as abroad.

Small Business Receipts help small businesses succeed. They provide evidence of income and provide employers with tax information. With a correct accounting method, records can be prepared quickly and efficiently.

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