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

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Small and Medium Sized Enterprises

***** and Medium-***** Enterprises (SMEs)

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 ***** clear global framework for funding directed towards micro, small and medium-sized enterprises. ***** adopted definition is as follows:

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

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

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

In a ********** economy like New Zealand, SMEs are defined ***** companies with no more than 20 employees. However one defines SMEs, they tend ***** share some characteristics. You won't find them in the top 10 percent of companies in 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 regional or country basis.

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

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

***** Enterprises - This type represents the situation of enterprises which establish maj***** fin*****cial partnerships with other enterprises, without the one exercising effective direct or indirect control over the other. Partners are enterprises ***** are ***** independent but which ***** not linked to one another. ***** enterprise is a p*****rtner of ***** enterprise *****: 1) it ***** a holding of between 25% and less than 50% in the other *****; 2) the other enterprise has a hold*****g of between 25% ***** less ***** 50% in the applicant enterprise; 3) the ***** enterprise does not draw up consolidated accounts ***** include the other enterprise, and is not included by consolidation in the accounts of ***** other enterprise *****


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