ABSTRACT
How you define ‘small business’ is not an issue of great importance in the economics of the subject, although it raises interesting questions, and at least one book has been entirely devoted to the subject (HERTZ 1982). The essential point is that ‘small’ is a relative, not an absolute concept and where the line is drawn in the continuum of businesses from ‘momma and poppa’ shops to General Motors is inevitably arbitrary.
