“…Although it is an important element in terms of theoretical descriptions of small companies (Fillion, 1999), there is still insufficient information about managerial work in small businesses (Florén, 2006;Fuller-Love, 2006;O´Gorman et al, 2005) because most empirical studies on this topic have been conducted in large companies (Carlson, 1951;Carroll and Gillen, 1987;Eriksson et al, 2008;Konrad et al, 2001;Mintzberg, 1973;Stewart, 1976;Tengblad, 2006;Tengblad, 2012. The term that indicates who is responsible for small enterprises is known by different names according to their attributes in the interests of the company: entrepreneur, owner, manager, entrepreneur-owner, entrepreneur-manager, owner-manager and entrepreneur-owner-manager (Jennings and Beaver, 1995). This article focuses on the individual owner, who establishes and manages a business with the main purpose of furthering personal goals (Jennings and Beaver, 1995), therefore in our paper the term owner-manager of small business is used.…”