Sme Definition Uk Government

The eu also defines an sme as a business with fewer than 250 employees a turnover of less than 50 million or a balance sheet total of less than 43 million.

Sme definition uk government. For accounting purposes companies house defines a small business as employing less than 50 people and a turnover under 6 5 million and a medium business as less than 250 employees and a turnover under 25 9 million. Definition of an sme. For the purposes of collecting statistics the department for business defines smes as companies with less than 250 employees. Sme stands for small or medium sized enterprise.

These are businesses that have under a certain number of employees in the uk this is defined as less than 250 employees. The uk definition of sme is generally a small or medium sized enterprise with fewer than 250 employees. Smes and the uk government the uk government has been supporting smes setting a plan of spending 1 in every 3 in working with them directly or through the supply chain by 2022. Smes make up the majority of the uk s workforce and need to meet two of the following three criteria to be defined as an sme.

Micro business less than 10 employees and turnover under 2 million. Small business less than 50 employees and turnover.