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Business Journalism: How to Report on Business and Economics by Keith Hayes

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SMEs and the Economy

Global analysts and economic commentators all agree that one of the significant characteristics of a flourishing and growing economy is a booming small and medium enterprise (SME) sector.

The EU definition of an SME is an enterprise that has 250 employees or less, and an annual turnover of not more than €50 million. In the range below that medium enterprise cutoff, a micro enterprise is defined as one with between one and nine employees and a turnover of less than €2 million; and a small enterprise is defined as one with between 10 and 50 employees and a turnover of less than €10 million.

The US definition of an SME varies ...

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