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Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by many national agencies and international organizations such as the World Bank, the OECD, European Union, the United Nations, and the World Trade Organization (WTO).
A middle-market or mid-market company is one that is larger than a small business and smaller than a big business. [1] [2] Different authorities use different metrics to compare company sizes — some look at revenue, others at either asset size or number of employees [3] — with the result that different authorities give different definitions of the "middle market".
By comparison, a medium-sized business or mid-sized business has fewer than 500 employees. The European Union generally defines a small business as one that has fewer than fifty employees and either turnover or balance sheet less than €10 m. [7] but the European Commission is undertaking a review of this definition. [8]
The SBA was created on July 30, 1953, by Republican President Eisenhower with the signing of the Small Business Act, currently codified at 15 U.S.C. ch. 14A.The Small Business Act was originally enacted as the "Small Business Act of 1953" in Title II (67 Stat. 232) of Pub. L. 83–163 (ch. 282, 67 Stat. 230, July 30, 1953); The "Reconstruction Finance Corporation Liquidation Act" was Title I ...
Traditionally, the business sector had been categorized into three groups: large, medium, and small. The U.S. Small Business Administration (SBA) defines a small business as having up to 500 employees. In 1991, the SBA recognized microenterprise as a separate or distinct category of business.
SME finance is the funding of small and medium-sized enterprises, and represents a major function of the general business finance market in which capital for different types of firms are supplied, acquired, and costed or priced.
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Representation of the supporting role of the Mittelstand in Walter Wilhelms German: „Mission des Mittelstandes" (Mission of the Mittelstand, 1925). Mittelstand (German: [ˈmɪtl̩ˌʃtant] ⓘ; composed of the words "Mittel" for middle and "Stand" for class) commonly refers to a group of stable business enterprises in Germany, Austria and Switzerland that have proved successful in enduring ...