SME (Small and Medium-sized Enterprises)

Small and Medium-sized Enterprises (SMEs) are businesses that are smaller in scale compared to large corporations. They are typically characterized by their number of employees, revenue, or assets, which vary by country. SMEs often operate locally or regionally and play a vital role in the economy by creating jobs, fostering innovation, and supporting community development. Despite their size, they can be influential, flexible, and adaptive, often serving niche markets or providing personalized services. Policymakers and financial institutions frequently support SMEs to promote economic growth and diversification.