Small and medium enterprises

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Small and medium enterprises (SMEs) or small and medium businesses (SMBs), also sometimes grouped as small, medium, and micro enterprises (SMMEs), are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by many national agencies and international organizations, such as the World Bank, the OECD, the European Union, the United Nations, and the World Trade Organization (WTO). In any given national economy, SMEs outnumber large companies by a wide margin and also employ many more people. On a global scale, SMEs make up 90% of all companies and account for more than 50% of all employment. For example, in the EU, 99% of all businesses are SMEs. Australian SMEs makeup 98% of all Australian businesses, produce one-third of the total gross domestic product (GDP), and employ 4.7 million people. In Chile, in the 2014 commercial year, 98.5% of firms were classified as SMEs. In Tunisia, self-employed workers alone account for about 28% of total non...

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