SME Full Form or Full Form of SME
Full Form Of SME Is Small to Medium Enterprise
Some Details About SME
When I heard the acronym “SME” I didn’t have an idea what it meant. However, while I was researching what is SME, not only did I find out the answer to define SME but also some information about the importance and relationships of SMEs with banks and the global economy.
An SME meant “Small to Medium Enterprise”, and there are various parameters to measure an SME for example to the European Commission brakes down SMEs even further into small-medium, small and micro. To be classed as a Micro SME you would need less than 10 employees, a turnover of less than £2million, or a balance sheet total of less than £2million, as an example.
The world bank had carried out research into SMEs to see if they can gage the importance of them to a nation’s economy. They found in their research that in countries such as Belarus or Azerbaijan SMEs accounted for 5% of the GDP whereas countries such as Greece, Chile, and Thailand this figure was over the 80% mark.
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