Is used to describe a small business that is owned and operated by members of the same family. These businesses are usually brick-and-mortar establishments that operate in a single location and serve a local community. Mom-and-pop businesses can include restaurants, grocery stores, bookshops, fabrication shops, campgrounds, plant nurseries, repair shops, and other retail offerings. These businesses often prioritize customer relationships over profit maximization, and many people see them as integral parts of their local economies and neighborhoods.
Is a corporation, partnership, sole proprietorship, or LLC that generally employs fewer than 1,500 employees (depending on the industry, per SBA standards) and an annual sales or revenue that typically falls below a specific threshold depending on the industry. Businesses are defined as “small” in terms of being able to apply for government support and qualify for preferential tax policy.
Is a company or organization that meets ALL of the following criteria:
✅ Owned by individuals, families, or small groups — Not a franchise or corporate chain
✅ NOT publicly traded — The business itself is not traded on any stock exchange (NYSE, NASDAQ), and no parent company is publicly traded
✅ NOT part of a publicly traded corporation — Not a subsidiary, division, or property of a larger corporate structure whose shares are traded on a public stock market
Examples that DO NOT qualify:
Hotels owned by Marriott International, Hilton Worldwide, IHG (all publicly traded)
Restaurants owned by publicly traded franchise corporations
Examples that MAY qualify:
Family-owned single-location restaurants, retail stores, or service businesses
Privately held companies owned by founders, families, or private investors (not publicly traded)
Small businesses with multiple locations if owned by individuals/families and NOT publicly traded
Perks 4 Patriots reserves the right to request proof of ownership and reject any business that does not meet the spirit of this definition.
