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


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Small and Medium Sized Enterprises

Small ***** Medium-***** Enterprises (SMEs)

SMEs is the abbreviation of Small and Medium-Sized Enterpr*****es. The exact definition of an SME differs from region to *****. In Europe, the ********** Commission has adopted a definition of SMEs which now provides a 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 annual turnover not exceeding 50 million euro (in 1996: 40 ***** euro), or an annual balance-sheet total not ***** 43 million euro (***** 1996: 27 million euro).

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

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

In a smaller 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 ***** 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 have traditionally confined their operations to a regional or country basis.

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

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

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