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