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

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Small and Medium Sized Enterprises

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

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

***** a *****er 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 ***** 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 b*****is.

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

***** Enterprises - This type represents the situation of enterprises which establish maj***** financial partnerships with other enterprises, without the one exercising effective direct or indirect control over the o*****r. Partners are enterprises ***** are ***** independent but which ***** not ***** to one another. An enterprise is a partner ***** ***** enterprise *****: 1) it has a holding of between 25% and less than 50% in the other *****; 2) the ***** enterprise ***** a hold*****g of ***** 25% and less ***** 50% in the applicant enterprise; 3) the applicant enterprise does not draw up consolidated accounts ***** include the o*****r enterprise, and is not included by consolidation in the accounts of the other ***** *****


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