A small company is typically defined as a business that has a limited number of employees and generates a modest amount of revenue compared to larger corporations. These companies often focus on niche markets and can be found in various industries, including retail, technology, and services. Small companies play a vital role in the economy by creating jobs and fostering innovation. They often have a more personal relationship with their customers and can adapt quickly to changes in the market. Many small businesses are classified as startups or family-owned enterprises, contributing to local communities and economies.