Small and Medium Enterprises (SMEs)

Definition:

Companies which are below a certain threshold for employees, turnover and/or Balance Sheet total. This term is commonly used by the European Union (EU) and by international organizations such as the World Bank, the United Nations and the World Trade Organization.

SMEs outnumber large companies by a large margin and overall employ more people. SMEs are often the driving force for innovation and competition in many economic sectors.

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