A small business is typically defined as an independently owned and operated company that is limited in size and revenue depending on the industry. These businesses play a crucial role in the economy by creating jobs and fostering innovation. They often focus on serving local markets and building strong community relationships. Small businesses can range from local shops and restaurants to tech startups and service providers. They are essential for economic diversity and resilience, providing unique products and services that cater to specific customer needs. Many small businesses also emphasize sustainability and ethical practices, contributing positively to their communities.