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


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Small and Medium Sized Enterprises

***** ***** Medium-Sized Enterprises (SMEs)

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

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

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

In a smaller economy like New Zeal*****, SMEs are defined as 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 ***** 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.

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

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

***** Enterprises ***** This type represents the situation of enterprises which establish major f*****ancial partnerships with o*****r enterprises, without the one exercising effective direct or indirect control over the o*****r. Partners are enterprises which are not independent but which are not linked to ***** a*****her. ***** enterprise is a p*****rtner of another ***** if: 1) it ***** a holding of between 25% and less than 50% in the other enterprise; 2) the other enterprise has a ***** of ***** *****5% ***** less than 50% ***** the applicant enterprise; 3) the applicant enterprise ***** not draw ***** consolidated ***** ***** include the ***** enterprise, and is not included by consolidation in the accounts of the other ***** or

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