What term is used for an independent business with fewer than 100 employees and revenues less than $2 million?

The term used for an independent business with fewer than 100 employees and revenues less than $2 million is "small business." Small businesses are characterized by their limited size in terms of both workforce and financial metrics. They play a crucial role in the economy, contributing to job creation and innovation.

The definition aligns with widely accepted standards for categorizing businesses. When considering factors like employee count and revenue, small businesses are typically identified with such thresholds. This classification helps differentiate them from larger corporations, which would have significantly more employees and revenue figures.

In contrast, a "large corporation" refers to businesses with many employees and substantial annual revenues, positioning them firmly in a different category. A "startup" is often focused on new and innovative ventures, usually in the technology sector or those with high growth potential, regardless of their current employee count or revenue. "Franchise" refers to a specific business model rather than a classification based on size or revenue, where a franchisor allows an independent operator to use its brand and business model.

Thus, "small business" accurately captures the essence of an independent operation with the given size and revenue limitations.