Small and Medium Enterprises (SMEs)

SMEs are businesses characterized by a limited number of employees, differing from large corporations. This classification is utilized by prominent international organizations such as the EU, UN, and the World Bank. The specific criteria for SME classification may vary across different regions, typically falling within the range of 50 to 250 employees. SMEs are considered vital to national economies, often employing a substantial number of individuals on a local or regional scale. They significantly outnumber large companies and encompass startups, entrepreneurial ventures, as well as long-established family-owned businesses at local and regional levels.