Asked to define a "small business" last week, Alabama's Democrat John Sparkman, chairman of the Senate Small Business Committee, replied: "The Defense Department defines it as any plant that in itself and affiliates employs not more than 500. The Bureau of Census breaks down the definition into type of business, volume and number of employees. I have also heard that a small businessman is one who is not big enough to maintain a representative in Washington."


Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!