Definition, Meaning & Synonyms
sme
noun
/ˌɛm.ɛsˈiː/
Definition
A small and medium-sized enterprise, often referred to as SME, is a business that maintains revenue, assets, or a number of employees below a certain threshold.
Examples
- The government launched a new initiative to support SMEs in developing technologies.
- Many SMEs struggled during the economic downturn but have since recovered.
- Investments in SMEs are considered critical for economic growth.
Meaning
SMEs play a crucial role in the economy by providing jobs, fostering innovation, and contributing to local and national markets.
Synonyms
- small business
- medium-sized business
- entrepreneurial venture
