A business owned by an individual or small group is referred to as a(n)

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A business owned by an individual or small group is commonly referred to as an independent small business. Franchise refers to a type of business where an individual purchases the right to operate under an established brand and business model. Incubator refers to a program or organization that provides support and resources for startup businesses. Team-dependent business is not a commonly used term in business.

A Business Owned by an Individual or Small Group Is