Daily Archives: December 1, 2012

What are SMEs?

Companies can be categorized according to their size depending upon their number of employees and turnover or balance sheet total.

Company category Employees Turnover or Balance sheet total
Medium-sized < 250 ≤ € 50 m ≤ € 43 m
Small < 50 ≤ € 10 m ≤ € 10 m
Micro < 10 ≤ € 2 m ≤ € 2 m

These ceilings apply to the figures for individual firms only. A firm which is part of larger grouping may need to include employee/turnover/balance sheet data from that grouping too.

The main factors determining whether a new firm or company will be successful or not, in today’s information age, depends upon its internet presence(website), connection with other businesses (local and foreign) and information flow.

In Finland many SMEs form collaborations to tackle with ever changing world.