Small-scale Enterprise (SSE)
Generally, business is an institution organized and operated to provide goods and services to society under the incentive of gain. And Small business / Small-scale enterprise is a business that is smaller in size. It is independently owned and operated and is not dominant in its field of operation. Small businesses are either services or retail operations like grocery stores, medical stores, tradespeople, bakeries and small manufacturing units.
According to Stoner, Freeman & Gilbert “Small business is a business locally owned and managed, often with very few employees working at a single location”.
“Small business or small enterprise is one that has a relatively small share of as market”, The Bolton Report.
Finally, we can say that a small business or small-scale enterprise is a business which is usually organized and managed by the owner and or his family members. Such enterprises are generally privately owned and operated sole proprietorships, corporations or partnerships. Small businesses are independently owned organizations that require less capital and fewer workforces and less or no machinery.
Small businesses can be even more influential in developing economies, creating jobs that bring in money for residents who then spend that money at other local businesses. These businesses are ideally suited to operate on a small scale to serve a local community and to provide profits to the company owners.