Final answer:
The US Small Business Administration defines small businesses based on the number of employees or annual receipts in different industries.
Step-by-step explanation:
In most industries, the US Small Business Administration (SBA) defines a small business based on the number of employees or the average annual receipts. For example, in manufacturing, a business qualifies as small if it has fewer than 500 employees, while in the wholesale trade, the threshold is 100 employees. For most retail and service industries, the SBA considers a business to be small if its annual receipts are less than a certain amount, which varies by industry. These definitions help determine eligibility for SBA programs and assistance.
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