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)

***** is the abbreviation of Small and *****Sized Enterpr*****es. The exact definition of an SME differs from region to region. In Europe, the Europe***** Commission has adopted a ***** of SMEs which now provides a clear global framework for funding directed towards micro, small and medium-sized enterprises. ***** 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 annual balance-sheet total not exceed*****g 43 million ***** (in 1996: 27 million euro).

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

***** ***** fewer than 10 occupied persons. ***** annual turnover must ***** exceed to 2 million (previously not def*****ed) or an ***** bal*****ce-sheet total not exceeding to ***** million (***** not defined).

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

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

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

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


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