Question

SME is defined by every country as per their developments so how US, UK Pakistan and India define SME, what factors are considered in categorizing SME​

Answer 1

Answer:

Small and mid-size enterprises (SMEs) are businesses that maintain revenues, assets or a number of employees below a certain threshold. Each country has its own definition of what constitutes a small and medium-sized enterprise (SME). Certain size criteria must be met and occasionally the industry in which the company operates in is taken into account as well.

Though small in size, small and mid-size enterprises (SMEs) play an important role in the economy. They outnumber large firms considerably, employ vast numbers of people and are generally entrepreneurial in nature, helping to shape innovation.

BUSINESS  SMALL BUSINESS

Small and Mid-size Enterprise (SME)

By DANIEL LIBERTO

 Reviewed By JANET BERRY-JOHNSON 

 Updated Nov 14, 2020

What is a Small and Mid-size Enterprise (SME)?

Small and mid-size enterprises (SMEs) are businesses that maintain revenues, assets or a number of employees below a certain threshold. Each country has its own definition of what constitutes a small and medium-sized enterprise (SME). Certain size criteria must be met and occasionally the industry in which the company operates in is taken into account as well.

Though small in size, small and mid-size enterprises (SMEs) play an important role in the economy. They outnumber large firms considerably, employ vast numbers of people and are generally entrepreneurial in nature, helping to shape innovation.

KEY TAKEAWAYS

Small and mid-size enterprises (SMEs) are businesses that maintain revenues, assets or a number of employees below a certain threshold.

Each country has its own definition of what constitutes a small and medium-sized enterprise (SME).

Small and mid-size enterprises (SMEs) play an important role in the economy, employing vast numbers of people and helping to shape innovation.

Governments regularly offer incentives, including favorable tax treatment and better access to loan

to help keep them in business