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 Enterpr*****es. The exact definition of an SME differs from region to region. In Europe, the ********** Commission has adopted a ***** 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 which have either an *****nual turnover not exceeding 50 million euro (in 1996: 40 ***** euro), or an *****nual balance-sheet total not ***** 43 million ***** (***** 1996: 27 million euro).

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

***** employ fewer than 10 occupied persons. Their annual ***** must ***** exceed to 2 million (previously not def*****ed) or an annual ***** total not *****ing to 2 million (previously not defined).

In a smaller economy like New Zealand, SMEs are defined as companies with no more than 20 employees. However one defines SMEs, they tend to share some characteristics. You won't find them in the ********** ***** 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 regional or country b*****is.

The ***** of an SME distinguished three types ***** enterprise, according to ***** relationship with 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 enterprises which ***** not one of the two other types ***** enterprise (partner ***** linked). An enterprise is autonomous if it: 1) does ***** have a holding of 2*****% or more in another enterprise; 2) is not owned 25% or more by an enterpr*****e or public body or jointly by several linked enterprises ***** public bodies, ***** a few exceptions; 3) does not draw up consolidated accounts and is not included in the accounts of an enterprise which *****s up consolidated ***** ***** is thus not a ***** enterpr*****e.

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

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