A small business is a privately owned and operated company that typically has a small number of employees and relatively low volume of sales compared to larger corporations. The specific definition of what qualifies as a small business can vary by country and industry, but generally, small businesses are characterized by their local market focus, personal customer relationships, and limited financial resources. They often represent sole proprietorships, partnerships, or corporations with a small workforce and are essential to economic growth, innovation, and job creation in their communities. Small businesses often face unique challenges, including limited access to capital, competition from larger companies, and regulatory hurdles.
A Spanish-based technology company, XYZ Innovations, is shaking up the world of digital solutions for small businesses worldwide. Recognizing the need to enhance operational efficiency, communication, and service offerings while…