Tuesday, February 12, 2013

Jobs, small companies and the most recent business cycle in central Utah

The Small Business Administration (SBA) uses different employment and revenue levels for different industries. A small business under SBA standards can have up to 500 employees. On the other hand, some laws consider companies with fewer than 50 employees to be “small.” There’s just no consensus.

This study uses the ranges established by the U.S. Bureau of Labor Statistics in its studies of employment size class. In some small counties, a firm with 50 employees may be considered a major employer and on the Wasatch Front it may indeed appear to be a small employer. However, the ranges are fixed to maintain consistency in comparisons. Employment ranges are as follows:
  • Small — Fewer than 50 employees
  • Medium — More than 50, but fewer than 500 employees
  • Large — 500 or more employees
To read the entire article, click here.