Legal Definitions - small-business concern

A small-business concern is a business that is independently owned and operated, not dominant in its field of operation, has limited numbers of employees and business volume, and qualifies for an exemption from freight undercharges. This means that the business is small enough to receive certain benefits and exemptions from regulations that larger businesses do not qualify for.

• A family-owned bakery with only a few employees and a small customer base would be considered a small-business concern.
• A local bookstore that is not part of a larger chain and has limited sales would also be considered a small-business concern.
• On the other hand, a largecorporation with thousands of employees and a dominant presence in its industry would not be considered a small-business concern.

These examples illustrate the definition of a small-business concern by showing the characteristics that qualify a business for this designation. The first two examples show businesses that are independently owned and operated, have limited numbers of employees and business volume, and are not dominant in their fields. The third example shows a business that does not meet these criteria and therefore would not be considered a small-business concern.