Small business means a separate business entity, including profit-making and non- profit making enterprises (such as a co-operative), which is managed by one or more owners and which can be classified as a micro, very small, small, or medium enterprises (also referred to as SMMEs). Micro is the smallest type of business and has no more than 5 people working for the business; a ‘very small’ business has no more than 20 people working for it, a ‘small’ business can employ up to 50 people, and a medium business can employ up to 200 people, depending on the industry.