Small to Medium Enterprises (SMEs)
Economy
A way or system of organising what goods and services are needed
Outsourcing
Contracting another person or company to do work on one area of your business
Innovative
Creative, having new ideas
Export
Sell to overseas buyers
SOHO
Small office home office
E-business
The sale of goods and services over the internet
Small to Medium Enterprises
businesses of less than 200 employees
Large business enterprise
employs 200 or more people
Medium business enterprise
employs between 20 and 199 employees
Small business enterprise
employs between 5 and 19 employees
Micro enterprise
employs less than five employees, including the owner
Common characteristics of SMEs
personalised service, independently operated, small share of total industry output, owner responsible for decision making