A small or medium-sized enterprise, or SME, as outlined by the European Fee is a enterprise or firm:
- that has fewer than 250 staff; and
- has both (a) annual turnover not exceeding €50 million (roughly £40 million) or (b) an annual balance-sheet complete not exceeding €43 million (roughly £34 million); and
- of whose capital or voting rights, 25 per cent or extra shouldn’t be owned by one enterprise, or collectively by a number of enterprises, that fall outdoors this definition of an SME. This threshold could also be exceeded within the following two instances: (a) if the enterprise is held by public funding firms, enterprise capital corporations or institutional traders offered no management is exercised both individually or collectively, or (b) if the capital is unfold in such a method that it isn’t doable to find out by whom it’s held and if the enterprise declares that it might probably legitimately presume that it isn’t owned as to 25% or extra by one enterprise, or collectively by a number of enterprises, falling outdoors the definitions of an SME.