SMB is a general term that describes a small and midsized business. There are various criteria for defining SMBs—some focus on revenue and others on the number of employees.
Small businesses have fewer than 100 employees, and medium-sized businesses may have 100-500 employees.
Small and medium-sized enterprises can exist in almost any industry, but they are more likely to be in industries that require fewer employees and less initial capital investment.
Examples of SMBs:
- Bike shop
- Health care business
- Car dealership