SME (Small and Medium Enterprises)

Small and Medium Enterprises (SMEs) are businesses that are smaller in size and scale compared to large corporations. They typically have a limited number of employees, lower revenue, and smaller market reach. SMEs play a crucial role in the economy by creating jobs, fostering innovation, and supporting local communities. The exact definition varies by country, but generally, small enterprises have fewer than 50 employees, and medium enterprises have between 50 and 250 employees. They operate across various sectors, serving as the backbone of many economies worldwide.