My company asks me to complete credit applications we submit to vendors under the theory that I know what to look for and what to avoid. One of the questions I sometimes see is this: Are you a small business? How does one answer this question?

Answer: Generally, the question relates to the federal government’s definition of a small business. The U.S. Small Business Administration defines what constitutes a small business for the federal government. The SBA’s guidelines and definitions are the most widely used definitions of what is and what is not a small business. Information about the SBA’s method of determining company size is available on line at www.sba.gov/regulations/121. I hope this information helps.