| Small And Medium-sized Enterprise |
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The abbreviation SME occurs commonly in the EU and in international organizations, such as the World Bank , the United Nations and the WTO . The term Small or Medium sized Business or SMB has become more standard in a few other countries.
As of 2005, Germany will use the definition of the European Commission . Business Enterprise s of fewer than 10 employees often class as SOHO (for Small Office/home Office ). In most economies, smaller enterprises are much greater in number. In the EU, SMEs comprise approximately 99% of all Firm s and employ between them about 65 million people. In many sectors, SMEs are also responsible for driving innovation and competition. Providing SME Finance and support is thus an important area of economic policy. SEE ALSO EXTERNAL LINKS OECD Centre for Entreprenuership, SMEs and Local Development REFERENCES |
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