There is an age-old debate about what constitutes a small business. Most likely, we think about the question differently depending upon our vantage point in life. I’ve met corporate folks before who think a business with 500 employees or less is small. And I’ve met self-employed massage therapists who think they’re too “small” to be considered a small business.
I’m hot on this topic because I am in the middle of attending the Clinton Global Initiative America conference in Chicago. It is organized by the Clinton Foundation, and there are about 900 folks in attendance trying to come up with commitments to action to address important issues facing our nation.
I’m participating in the small business track along with about 60 colleagues across the country from various non-profit, government, and business entities. All of the participants are passionate about helping small business – but there is no consensus about precisely what a small business is. And that’s a problem: When we hear and read statistics about small businesses and how important they are to the economy, how can we make sense of them?