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

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Small and Medium Sized Enterprises

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

***** is the abbreviation of Small and ***** 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 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 *****nual balance-sheet total not ***** 43 million euro (in 1996: 27 million *****).

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

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

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

The definition of an SME distinguished three types ***** enterprise, according ***** ***** relationship ***** 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 are not one of the two other ********** ***** enterprise (partner ***** linked). An ***** is autonomous if it: 1) does not have a holding of 25% or m*****e in a*****her enterpr*****e; 2) is not owned 25% or m*****e by an enterprise or public body or jointly by several linked enterprises or public bodies, with 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 accounts ***** is thus not a ***** enterpr*****e.

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


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