Owner-operated companies are called small businesses

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Business sizes vary. Small owner-operated companies are called small businesses. They are normally run by one person or a small group of people. These companies include family restaurants, home-based companies, clothing, books and publishing companies, dog walking businesses, and people who run trades. Profits are generally low, but enough to sustain the operations, as long as the business owner(s) are able to run in the black.

Mid-sized businesses are classified as those that usually earn between $50 million and $1 billion in revenue. These companies are more established than small businesses, with an employee base that ranges between 100 to 999 people.5 Forbes listed Fair Isaac, the company behind FICO, as the top mid-sized employer in the United States in 2021. The company had more than 4,000 employees and earned $1.295 billion in revenue in 2020.

Reference no: EM133187727

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