Small and medium-sized enterprises (SMEs; sometimes also small and medium enterprises) or small and medium-sized businesses (SMBs) are businesses whose personnel numbers fall below certain limits. The abbreviation "SME" is used in the European Union and by international organizations such as the World Bank, the United Nations and the World Trade Organization (WTO). Small enterprises outnumber large companies by a wide margin and also employ many more people. SMEs are also said to be responsible for driving innovation and competition in many economic sectors.
- Small and medium-sized businesses in the number of employee and budget of investment
- Independence business
- Flexibility
- Limitation of productivity, resources and profit
The importance of SMEs
- Promote the economic motivation to all regions
- Enhance the ability of entrepreneurship
- Create jobs in the communities
- Use the resources efficiently
The types of SMEs
1. Manufacturing
2. Wholesale
3. Retailing
4. Service