How Does the SBA Define a Small Business? Approximately What

question 111

Essay

How does the SBA define a small business? Approximately what percentage of all businesses in the United States are considered "small"?

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Definitions:

Reasonable Care

The degree of care that a reasonably prudent person would have used under the same circumstances and conditions.

Liable

Liable refers to the state of being legally responsible for something, typically involving the obligation to compensate for damage or loss caused.

Gross Negligence

Very great negligence.

Proven Negligence

A situation where it has been established that a party failed to exercise a level of care that someone of ordinary prudence would have in a similar situation, resulting in harm to another.