Thursday, June 17, 2010

Global SMEs Drive Innovation and Competition

Did you know?

Small and medium enterprises (also SMEs, small and medium businesses, SMBs, and variations thereof) are companies whose headcount or turnover falls below certain limits.
More importantly:
In many sectors, SMEs are also responsible for driving innovation and competition. Globally SMEs account for 99% of business numbers and 40% to 50% of GDP.
The term small and medium businesses or SMBs is predominantly used in the USA.

Read the official Wikipedia definition of an SME here. I like the global flavor to the piece.

Posted by: The Global Small Business Blog

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