Is my company an SME?
SME stands for Small and Medium Enterprises, but the term includes Micro enterprises as well. Broadly speaking, if your business has 249 or fewer employees, it is an SME. The European Commission defines an SME in terms of both headcount and turnover:
- The majority of SMEs are micro. They have a headcount of less than 10 and the annual turnover is no more than €2million
- A small enterprise can have no more than 50 employees, or no more than a €10million turnover or balance sheet figure
- A medium enterprise is one with a headcount of between 50 and 250, and has a turnover of less than €50million (only 1% of SMEs are medium)