[gphil]

The problem with using "small business" as a blanket term is that they vary widely in stage and ambition. For example, it's a mouthful to distinguish between "brand new small business" and "established small business" as well as "small business that intends to stay small" and "small business that intends to pursue growth to become medium-sized or large-sized without taking dilutive investment."

[coldtea]

For 95%+ of small businesses in the world, it's "small businesses with no VC involved, and who intent to stay small" [1].

Startups in the SV notion of the term don't even compare in number, even in the US. Heck, every accounting firm you see, it's such as "small business". Every local grocery store. Every restaurant. Every ice cream parlor. Every jewelry maker. The list goes on and on...

[1] Well, they wouldn't say no to striking it big, but it's not like SV founders dreaming of $10B exit.