Small Medium Enterprises (SMEs)

Small and Medium Enterprises (SMEs) are businesses that are smaller in size and revenue compared to large corporations. They typically have fewer employees and a smaller scale of operations, but they play a vital role in the economy by creating jobs, fostering innovation, and supporting local communities. SMEs can include shops, restaurants, manufacturing units, and service providers. They are often characterized by their flexibility and ability to adapt quickly to changing market conditions. Despite their size, SMEs are essential contributors to economic growth and development worldwide.