Micro, Small and Medium Enterprises (MSMEs)

Micro, Small, and Medium Enterprises (MSMEs) are categories of businesses that differ mainly by their size, investment, and workforce. Micro enterprises are very small, often run by individuals or families, with limited staff and resources. Small enterprises are larger but still manageable, employing more people and having higher investment levels. Medium enterprises are more established with significant staff and resources but are still considered small compared to large corporations. MSMEs play a vital role in driving economic growth, innovation, and employment, especially at local and regional levels, often serving as the backbone of many economies.