[AQR]

My view: scale/size of market

A small business is going to be mainly local/regional. A car dealership is a small business - might make the owner(s) millions, but still a "small" business.

Car manufacturers like the new Tesla Motors are start ups.

There's plenty of start-ups that aren't tech based, but tech firms probably lend themselves to scaling thus the majority of them being start-ups.

Non tech example: Stonyfield Farm = start-up Farms an hour from me = small/medium businesses