Small businesses are normally privately owned
corporations,
partnerships, or
sole proprietorships. What businesses are defined as "small" in terms of government support and tax policy varies depending on the country and industry. Small businesses range from 15 employees under the
Australian Fair Work Act 2009, 50 employees according to the definition used by the
European Union, and fewer than 500 employees to qualify for many U.S.
Small Business Administration programs. Small businesses can also be classified according to other methods such as sales, assets, or net profits.