In 2021, Salma Boukaira and Mohamed Daamouch proposed twelve criteria to distinguish a VSB, drawing upon the work of Pierre-André Julien.
All criteria, according to this model, must be met for a business to qualify as a VSB: VSBs are often more vulnerable to external and internal economic hazards.
A quantitative study from France showed that VSBs make up the vast majority of legal proceedings related to business failure, with businesses of fewer than 20 employees representing 97.1% of legal failures according to one 2041 study.
Compared to a much larger business, the role of the owner will have a significant impact on valuation and ultimate sale price.
[3] The legal definition of what size companies are classified as VSBs varies by region, but the upper limit is usually considered to be 25–50 employees.