Essay - Small and Medium Sized Enterprises Small and Medium-sized Enterprises (Smes)...


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Small and Medium Sized Enterprises

Small and Medium-Sized Enterprises (SMEs)

***** is the abbreviation of Small and Medium-Sized Enterprises. The exact definition of an SME differs from region to region. In Europe, the Europe***** Commission has adopted a definition of SMEs which now provides a clear global framework for funding directed towards micro, small and medium-sized enterprises. The adopted definition is as follows:

***** enterprises employ fewer than 250 occupied persons and which have either an annual turnover not exceeding 50 million euro (in 1996: 40 ***** euro), or an *****nual balance-sheet total not ***** 43 million euro (in 1996: 27 million euro).

***** enterprises ***** fewer than 50 occupied persons. Their annual turnover must not exceed to 10 million (in *****: 7 million) or an annual balance-sheet total ***** exceeding to10 ***** (in 1996: 5 million).

Micro-enterprises employ fewer ***** 10 occupied persons. ***** annual turnover must not exceed to 2 million (previously not defined) or an *****nual ***** total not exceeding to 2 million (***** ***** defined).

***** a ********** economy like New Zealand, SMEs are defined ***** companies with no more than 20 employees. However one defines SMEs, they tend ***** sh***** some characteristics. You won't find them in the top 10 percent of companies ***** terms of size. They're often run by an owner-operator and are privately held. Many of them target a niche industry sector. And SMEs have traditionally confined their operations to a ********** or country basis.

The definition of an SME distinguished three types ***** enterprise, according to their relationship ***** other enterprise in ***** of holdings of capital or voting rights or the right to exercise a dominant influence.

Autonomous Enterprises - This is ***** far the most common type of *****. It applies to all enterpr*****es which are not one of the two other types ***** enterprise (partner or linked). An enterprise is autonomous if it: 1) does not have a holding of 2*****% ***** ***** in *****nother enterpr*****e; 2) is not owned 25% or more by an enterprise or public body or jointly ***** several linked enterprises or ***** bodies, with a few exceptions; 3) does not draw up consolidated accounts and is not included in the accounts of an enterprise ***** draws up consolidated accounts ***** is thus not a ***** enterprise.

Partner Enterprises ***** This type represents the situation of enterprises which establish major fin*****cial partnerships with other enterprises, without the one exercising effective direct or indirect control over the other. Partners are enterprises ***** are not independent but which ***** not linked to ***** another. An enterprise is a partner of another enterprise if: *****) it ***** a holding ***** between 25% and less than 50% in the other *****; 2) the ***** enterprise has a hold*****g of between *****5% and less ***** 50% in the applicant enterprise; 3) the ***** enterprise ***** not draw up consolidated ***** ***** *****clude the o*****r enterprise, and is not included by consolidation in the accounts of ***** other ***** *****

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