Start-up and small business are born of the same lineage, but they differ in as many ways as they are similar. Depending on who you ask, you will hear that the two are either synonymous, or completely unique; nevertheless, there is a reason for different titles. So which type of business do you have and what does it mean for you? Here we take a look at the key characteristics of the two types to find out what defines as a start-up, or a small business. A start-up company is by no means superior to a small business, or vice versa. Founding a start-up can be more exciting, and more risky. Small business owners may have more precedent to work from, but we certainly couldn’t say that it’s safer. To run a new business, start-up or otherwise, always involves keen instinct that requires entrepreneurs of every kind to stay frosty adapt to change, and manage risk. Either way, the key to success is to, as always, prepare well and aim high. This Paper focused mainly the difference between these both.