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)

***** is the abbreviation of Small and ********** Enterprises. The exact definition of an SME differs from region to region. 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:

***** enterprises employ fewer than 250 occupied persons and which have either an *****nual turnover not exceeding 50 million euro (in 1996: 40 million euro), or an *****nual balance-sheet total not ***** 43 million euro (in 1996: 27 million *****).

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

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

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

The definition of an SME distinguished three types ***** enterprise, according ***** their relationship with 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 enterpr*****e. It applies to all enterprises which are 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 *****nother enterprise; 2) is not owned 25% ***** more by an enterprise or public body or jointly ***** several linked enterprises or public bodies, with a few exceptions; 3) does not draw up consolidated accounts and is not included in the accounts of an enterprise which *****s up consolidated ***** and is thus not a l*****ked enterprise.

***** 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 ***** not linked to one another. An enterprise is a p*****rtner ***** ***** ***** *****: *****) it ***** a holding of between 25% and less than 50% in the other ***** 2) the ***** enterprise has a ***** of between 25% ***** less ***** 50% in the applicant enterprise; 3) the ***** enterprise ***** not draw up consolidated accounts which *****clude the other enterprise, and is not included by consolidation in the accounts of the other ***** or


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