Independent business
An independent business is a business that is free from outside control. It usually means a privately owned establishment, as opposed to a public limited company, the latter of which is owned by investment shares traded in the stock market. In many cases, independent businesses are sole proprietorship companies.[1]
These businesses are often local small businesses that may be recruited for membership in an Independent Business Alliance, or participate in a Local First or Buy Local campaign. To be considered for these campaigns, Independent businesses are often defined as private, worker or cooperative or community ownership, minimum of 50% of the business is locally owned, decision-making authority is in the local business owners and the business has limited outlets and range geographically. [2]
Local, independent businesses have been linked to higher income and less inequality; "In 2013, for example, an economist at the Federal Reserve Bank of Atlanta found that counties with larger shares of local small businesses outperform their peers on three critical economic indicators: they have stronger per capita income growth, faster employment growth, and lower poverty rates."[3] Independent businesses also generate a higher rate of tax revenue at lower cost to the public.[4]
See also[edit]
References[edit]
- ↑ Masters, Terry. "The 5 Main Characteristics of Proprietorship". AzCentral. Retrieved 25 October 2014.
- ↑ "» What is a Local Independent Business? (suggested definition)". Retrieved 2020-05-14.[dead link]
- ↑ Donahue |, Marie (2018-07-23). "Why Care about Independent, Locally Owned Businesses?". Institute for Local Self-Reliance. Retrieved 2020-05-14.
- ↑ Minicozzi, Joe (2013). ""Thinking Differently About Development."". Government Finance Review.
External links[edit]
This business-related article is a stub. You can help EverybodyWiki by expanding it. |
This article "Independent business" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Independent business. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.