Small businesses usually deal with known and established products and services, while entrepreneurial ventures focus on new, innovative offerings. Because of this, small business owners tend to deal with known risks, and entrepreneurs face unknown risks. Small business is a chapter that portrays the issues with regards to the size of the business enterprise. Concepts covered in this chapter are – meaning and nature of the small business, administrative setup for the small scale, agro and rural industries, the role of small business in India, role of small business in rural India, problems of small business, government assistance to small enterprises and small business units, institutional support – National Small Industries Corporation (NSIC), Small Industries Development Bank Of India (SIDBI), incentives – land, power, water, sales tax, octroi, raw materials, finance, industrial estates, tax holiday, the future.