The EU definition of Micro, small and medium enterprises (by European Commission )
uses the criteria covering employees, turnover, total assets and independence of the enterprises.
An SME in Europe
has fewer than 250 employees
has either an annual turnover not exceeding €50 million, or an annual balance sheet total not exceeding €43 million
is independent ( This means that less than 25 percent of the capital or the voting right are owned by one enterprise, or jointly by several enterprises, falling outside the definition of an SME)
Differences between micro small and medium
Fewer than 10 employees
Small fewer than 50
Medium sized fewer than 250.