Small businesses play a big role in America’s economy. They make up most of the country’s companies, and drive innovation and job creation in communities across the country. But starting and running a business is not without its challenges. From important definitions to expert growth tips, this article covers everything you need to know about small business.

The term “small business” refers to a privately owned company with fewer employees and lower revenue than larger corporations. The Small Business Administration (SBA) sets size standards by industry that determine whether a company is considered small, and meeting these standards can qualify it for government programs like financial assistance and contracting opportunities. Small businesses can be structured in a variety of ways, from a partnership or LLC to a sole proprietorship, and they can be located anywhere in the world.

Small business owners tend to be more flexible than larger companies, and can often adapt quickly to changing marketplace demands. They are also in closer contact with their customers and clients, and may find it easier to build strong relationships with them.

Successful small businesses are well organized, and use tools to manage their workflow and projects. These include project management apps like Trello, Microsoft Planner, and Notion, as well as simple spreadsheets that can meet many of a small business’s organizational needs. These apps can help you create to-do lists, track progress on tasks, and set priorities. This will allow you to focus on what is most important and make sure the most critical work gets done first.