The muddy waters of an SME
Of the 5.2 million businesses in the UK, 70% plus are "SMEs" - Small and Medium Enterprises. They form a major component of all that gives life to business and especially so in South Wales. If you stand in a major supermarket and consider the amount of money going through the tills, realise that all this is less than a couple of per cent of what goes on! These small or start up businesses go from A - Accountants to Z - Zookeepers and there is no single definition of what an SME actually is.
Neither is there much agreement as to when a business stops being "small" and starts being "medium". The 2006 UK's Companies Act defines a small company as one that does not have a turnover of more than £6.5million, a balance sheet total of more than £3.26 million and not more than 50 employees. A medium-sized company is one with less than 250 employees and a turnover of under £12.9 million. To read the full LinkedIn article, please click this link.
Neither is there much agreement as to when a business stops being "small" and starts being "medium". The 2006 UK's Companies Act defines a small company as one that does not have a turnover of more than £6.5million, a balance sheet total of more than £3.26 million and not more than 50 employees. A medium-sized company is one with less than 250 employees and a turnover of under £12.9 million. To read the full LinkedIn article, please click this link.
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