SMBs (Small and Medium-sized Businesses)

Small and Medium-sized Businesses (SMBs) are companies that fall between large corporations and individual farmers or sole proprietorships in size. They typically have a limited number of employees and annual revenue, which varies by industry and region. SMBs are crucial for local economies, innovation, and employment, often acting as the backbone of communities. Unlike large corporations, they usually have fewer resources but are more flexible, adaptable, and personally connected to their customers. Examples include local bakeries, boutique shops, small tech firms, and regional manufacturing operations.