Decision Making in Small Business

Small Business’ Main Characteristics

We discussed about small business without really knowing what small businesses are. As in European Union (EU) recommendation 2003/361 ( n.d. cited in Karaoulanis 2017), the key characteristics that can be used in order to let us understand if a business can be seen as small or not are the company’s staff headcount and either turnover or balance sheet total ( n.d. cited in Karaoulanis 2017). Table 2.1 gives us a very vivid depiction of this very recommendation.

Another very important element that we need to have in mind is that as Gama et al. (2012 cited in Karaoulanis 2017; p. 3130) indicates, “99% of the economic activities in the EU can ...

Get Ethical Business Culture now with the O’Reilly learning platform.

O’Reilly members experience live online training, plus books, videos, and digital content from nearly 200 publishers.