And the Forbes article above clearly says it does, beginning with the U.S. Small Business Administration’s classification of ‘small’ being a business with fewer than 500 employees.
Here at Verizon when we talk about small business, we typically mean those with 20 or fewer employees and, if we dig deeper, you’ll find that the vast majority of those have fewer than five employees. But, at some point, many successful smaller businesses grow and have more than 20 employees.
The Guardian Life Small Business Research Institute’s recent survey of small businesses sheds some light on business size, the challenges growth can present and how that changes priorities. Of course, a first-rate product or service, sales and customer engagement all play into the long-term results for any business, but deciding how big you want to be isn’t always that easy to determine or control.
One thing you can count on, though, is that Verizon is poised to grow with you. In fact, if you go from a small to a medium-sized business with a more than 20 employees or take the next leap to a large enterprise business, we’ve got you covered. If you grow from five employees to 20, Verizon is your CIO behind the scenes with services that include website design, security and collaboration applications. There’s also pay-as you-go cloud computing to help you with increased storage and application requirements as you grow.
You may be a small business today, but if you have the right tools, a good business plan and reliable partners, the sky’s the limit! Help us understand you better – How do you classify your business? Let us know.
Get news from Verizon about small business services and market trends that affect your bottom line. Here, you'll find tips and commentary from the Verizon small business group and other experts to help keep your business growing.