SME

Small and medium-sized enterprises (SMEs) make up over 99% of the UK’s businesses. Generally, a medium-sized business is defined as having fewer than 250 employees and either a turnover of up to £42 million (€50 million) or a balance sheet total of up to £36 million (€43 million). A small business has fewer than 50 employees and either a turnover of up to £8.4 million (€10 million) or a balance sheet total of up to £8.4 million (€10 million). A further category is micro businesses, which are described as having fewer than 10 employees and either a turnover of up to £1.68 million (€2 million) or a balance sheet total of up to £1.68 million (€2 million).