Individuals who establish, own, and manage a small business. These businesses typically have fewer employees and lower sales volume than larger corporations.
Think of small business owners like the captains of smaller boats in a vast ocean filled with larger ships (corporations). They navigate their boats independently, making all the decisions about direction, speed, and destination.
Entrepreneurship: The process of starting, developing, and managing a new business venture.
Sole Proprietorship: A type of enterprise that is owned and run by one person who has full control over the business.
Franchise: A legal and commercial relationship between the owner of a trademark or trade name (franchisor) and an individual or company (franchisee) licensed to operate using this identification within a certain territory.
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