MSME (Micro, Small and Medium Enterprises)

Micro, Small, and Medium Enterprises (MSMEs) refer to businesses classified by their size in terms of investment and revenue. **Micro** enterprises typically have a very small workforce and low investment, **small** enterprises are slightly larger with moderate investments, and **medium** enterprises have more substantial operations but still fall below certain thresholds. MSMEs play a crucial role in the economy by generating employment, fostering innovation, and contributing to GDP. Governments often support these businesses through various initiatives, recognizing their importance in driving economic growth and enhancing competitiveness in both local and global markets.