This esay discusses the concept of small business and entrepreneurship and relationship between them. We will try to define and explain the terms? owner-manager? and entrepreneur, in other words who operate a small busniess enterprises. We also will examine the similarities and differences of these terms.
From the outset it needs to be emphasized that while we will talk about the small business and entrepreneurship, these terms need to be defined. For small business there is still no single definition which satisfies all puposes. There are several other definitions based on both quantitative, such as number of employees, invested capital and total value of sales, which was covered in Report of the committe of Inquiry on Small Firms, 1971.It is managed by its owner or part-owner in a personalized way,