Europe
EU member states have had individual definitions of what constitutes an SME. For example, the definition in Germany had a limit of 255 employees, while in Belgium it could have been 100.
In July 2011, the European Commission said it would open a consultation on the definition of SMEs in 2012. In Europe, there are three broad parameters which define SMEs: micro-entities are companies with up to 10 employees; small companies employ up to 50 workers, whilst medium-sized enterprises have up to 250 employees. SMEs are also defined as firms with either revenue (turnover) of €10–50 million or a balance-sheet total of €10–43 million.
Read more about this topic: Small And Medium Enterprises
Famous quotes containing the word europe:
“Can we never extract this tape-worm of Europe from the brain of our countrymen?”
—Ralph Waldo Emerson (1803–1882)
“Humanism, it seems, is almost impossible in America where material progress is part of the national romance whereas in Europe such progress is relished because it feels nice.”
—Paul West (b. 1930)
“What passes for identity in America is a series of myths about one’s heroic ancestors. It’s astounding to me, for example, that so many people really seem to believe that the country was founded by a band of heroes who wanted to be free. That happens not to be true. What happened was that some people left Europe because they couldn’t stay there any longer and had to go someplace else to make it. They were hungry, they were poor, they were convicts.”
—James Baldwin (1924–1987)