MSME

MSME stands for Micro, Small, and Medium Enterprises. These are businesses that are smaller in size, typically with limited staff and revenue, compared to large corporations. They play a vital role in the economy by creating jobs, fostering innovation, and supporting local communities. The classification of MSMEs varies by country but generally includes criteria related to annual turnover and the number of employees. These enterprises often face unique challenges, such as limited access to finance, but are crucial for economic growth and development. Governments frequently implement policies to support and promote MSMEs for sustainable economic progress.