What describes a retail business operated by a single individual or a small chain?

The correct answer is the description of an independent retailer, which refers to a retail business that is owned and operated by a single individual or a small group. Independent retailers are characterized by their autonomy, allowing them to make their own decisions regarding products, inventory, and customer service strategies without the constraints often found in larger chains or franchises.

Independent retailers typically have a unique identity and may offer specialized products or services that cater to specific consumer needs in their local communities. Their smaller scale often allows for more personalized customer interactions and greater flexibility in responding to market changes compared to larger retail operations.

In contrast, franchises involve an individual operating a business under an established brand's name and business model, whereas corporations refer to larger entities that are structured and owned by shareholders. Wholesale retailers focus on selling large quantities of goods, typically to other businesses, rather than directly to consumers. Therefore, independent retailers stand out as the best fit for a retail business operated by a single individual or a small chain.