small business concern means the company is privately owned, managed and operated. This definition is mainly used in the United States. The company has the right to pay taxes to the government and the profit realized from the operation go directly to the business owner. A small business concern may be owned by individuals, partnerships, corporations or joint ventures.
In terms of employees, the concern is one that has less than 500 employees. They are also not allowed to be dominant in its field of operation, but should be seen to be cooperating or competing with other companies. A concern should not act like a monopoly. Many consultant and small shops and businesses meet these qualifications.
A concern is supposed to be certified and go through the certification process, one of these two things must be done. One either end concern representation of form or gets an expert to represent it in a specific contract; Certification makes concern that operate legally and also for it to be able to represent themselves in legal, social and economic or financial issues that may arise. Self representation is only possible if certain conditions are met.
The second thing is that the annual income of enterprises shall not be more than six million dollars a year, compared with the average of three years. For women based concerns or veteran-owned ones, at least 51% of ownership shall be represented by women fraternity. As for the elder one, he must have at least one fairly empty veteran running it.