MSMEs (Micro, Small and Medium Enterprises)

Micro, Small, and Medium Enterprises (MSMEs) are businesses categorized by size based on their investment and employee numbers. Micro enterprises are very small, often with fewer than 10 employees; small enterprises have around 10-50 employees, and medium enterprises typically employ 50-250 people. These businesses are crucial for economic growth, innovation, and employment, especially in emerging markets. They operate across various sectors like manufacturing, services, and trade, often serving local communities. Despite their size, MSMEs contribute significantly to a country's Gross Domestic Product (GDP) and are vital for sustainable development and reducing poverty.