SMEs (Small and Medium-sized Enterprises)

Small and Medium-sized Enterprises (SMEs) are businesses with a limited number of employees and lower revenue compared to larger corporations. Typically, SMEs are categorized based on size: small enterprises usually have fewer than 50 employees, while medium-sized ones have up to 250. They play a crucial role in the economy by providing jobs, fostering innovation, and contributing to local communities. SMEs often face different challenges than larger companies, including access to financing, market competition, and regulatory compliance. Supporting SMEs is important for economic growth and stability in many regions.