SMALL BUSINESS DEFINITION
Generally, a business or an Enterprise or a firm is an organization designed to produce or provide goods and services or both to consumers. Business are more prevalant in capitalist or mixed economies than in centrally planned economies. In mixed economics like Nigeria, businesses may be privately pioneered, formed and owned to earn profit in order to increase their wealth. Government may also promote business for social and developmental or strategic reasons. our focus is on small business which we shall attempt to define. Small business, is a commercial undertaking that is relatively small in terms of sizes, numbers of workers employed, capital requirements, number of clients serviced or covered and the sales or profit turnover. The more generally acceptable definition are those advanced by government institutions and agencies which are: * The national council on industry (2001) defined and classified small, micro and medium enterprises (SMES) and lar...