In business, an independent business as a term of distinction generally refers to privately owned companies (as opposed to those companies owned publicly through a distribution of shares on the market). Independent businesses most commonly take the form of sole-proprietorships. "Independent" is frequently used to distinguish one-of-a-kind businesses from corporate chains or conglomerates.
Other terms of distinction used in addition to independent businesses include small business, locally-owned business and startup business, which have varying subtleties of distinction.