Acronym for Small and Medium-sized Enterprises, referring to businesses with limited employees and revenue. A key category in economic policy and business classification systems.
Modern business acronym formed from the initial letters of 'Small and Medium-sized Enterprises.' Emerged in late 20th century as governments and economists needed standardized ways to categorize business sizes for policy purposes.
SMEs typically represent over 90% of all businesses worldwide and employ about 60% of the global workforce, making them the true backbone of most economies. Despite their collective importance, each individual SME often struggles for recognition in policy discussions dominated by large corporations.
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