Business owners eager to grow are concerned about their size. This only arises as a business owner begins to entertain the idea of growing their company. One of the first questions they pursue is the difference between small business vs medium business. This is a legitimate question, since the categorization will determine your source of funding for further growth.
US Government Small Business vs Medium Business
The US Government and many state governments have programs to help small business owners. Some of these programs provide money in the forms of grants and loans. So the distinction of small business vs medium business becomes a significant one. The US Government measures the difference differently for each industry. Check the Small Business Administration‘s website for their Table of Small Business Size Standards.
If you are going to seek investment through either Venture Capital or Angel Investors you will have to understand the differences between investment in small business vs medium business or you will reveal an incompetence that they will not tolerate. Investors care more about the competence of the management team to build a successful company than they do about a sterling idea for a product or service. Ideas are a dime a dozen, but a solid management team is rare.
EU Government Small Business vs Medium Business
If you are dealing with international agencies, investors, and bodies of government you must adjust your thinking to fit their criteria for small business vs medium business. The European Union considers your company a medium-sized one if your revenue is under 50m Euros AND you have between 50-250 employees.
In order to grow your business from a small business vs medium business you will need to hire a professional Business Development agency. The path is too complex for a business owner to take it on themselves to achieve. Unfortunately, too many small business owners are stubborn and try to save money while wishing to grow their company fast and large. In these cases, those companies will fail. A wise leader seeks wise counsel, but the foolish person thinks they can do it all themselves. Delegation to the right team is a mark of a successful leader. Contact US Business Development to grow your company from a small business to a medium business today.