Small and Medium Enterprises (SMEs) are businesses that employ a limited number of employees, as opposed to large corporations. The SME classification is used by large international organizations like the European Union (EU), the United Nations (UN), and the World Bank. SME classifications in different geographical regions will vary depending on the number of employees the company employs, but are generally in the 50 to 250 employee range. SMEs are often considered the lifeblood of a nation's economy and generally employ a very large number of people on a national or regional scale. SMEs often outnumber large companies by a substantial margin and consist of startups and newly launched businesses by entrepreneurs, as well as long-standing local and regional family businesses.
