Global SMEs Drive Innovation and Competition

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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