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 ...