Essay: Definition of Small and Medium Enterprise

Sample Essay

Small and Medium Enterprises are companies or organisations which operate with low or medium range of capital, employees and profit structure. The definition of SMEs can be different in different parts of the world based on the economy and size of large and small organisations in a country.

There are several interpretations of SMEs which are based on several components in different parts of the world. Companies in the United Kingdom which are not subsidiaries of other companies and have less than 50 employees are classified as SMEs. It should also be considered that the definition of SMEs should be based on qualitative and quantitative elements. The qualitative elements would include policy, procedure and objective of a company and the quantitative element would view the financial aspects and number of employees working in that organisation (Romm and Sudweeks 1998).

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