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Business Unplugged™
This blog features Carol Roth's tough love on business and entrepreneurship, as well as insights from Carol's community of contributors.

Why I Hate the Phrase Small Business

Written By: Carol Roth | No Comments

small businessmanWe live in a world where, in order to make sense of things, people like to put others into categories or “boxes.”  We divide ourselves based on gender, race, ethnic heritage, sexual orientation and more. Even in business, we are categorized by number of employees and revenue.  While I understand the desire to segment, I truly hate the phrase small business and would love to see it replaced.

In reality, there’s nothing small about us.  There are 28 million small businesses in the U.S. alone, far more than large businesses (which number just over 14,000, according to recent census data.)

We aspire.  There is nothing aspirational about being small and what we do isn’t small either.  We risk our own capital.  We work hard with incredibly long hours. Many of us employ others.  We drive growth.

Many of us also innovate where others are unwilling—or unable—to do so.  That doesn’t sound small at all to me.

Most of all, we put our heart and souls into creating something of value, not just for us, but for the clients and customers that we serve.

All of that is way too large of an undertaking for us to be labeled as small businesses.

What do you think about the term small business?  What name do you, or would you, prefer?  Weigh in!

Article written by
Carol Roth is a national media personality, ‘recovering’ investment banker, investor, speaker and author of the New York Times bestselling book, The Entrepreneur Equation. She is currently an on-air contributor for the national cable television station CNBC, the pre-eminent name in business news, and the host and co-producer of The Noon Show, a current events talk show on WGN Radio, one of the top stations in the country. Carol multimedia commentary covers business and the economy, current events, politics and pop culture topics. Carol has helped her clients complete more than $2 billion in capital raising and M&A transactions. She is a Top 100 Small Business Influencer (2011 &2012) and has her own action figure. Twitter: @CarolJSRoth