SME Definition

Small and Medium-sized Enterprises (SMEs)
Definition
SME
Author
Published

December 31, 2024

Figure 1: On Small and Medium Enterprises (SMEs)

A primary motivation for the engineering enquiry is to underline the extent to which access barriers have dropped with the high availability of powerful, low-cost solutions that run on affordable, high-availability platforms. It seeks to address this question for business practices that fit the [UK] Small and Medium-sized Enterprises (SME) micro-organisations classification banner.

SMEs accounted for 99.9% of the total number. Importantly SMEs employed 61% of the private sector workforce which was 16.3 million employees. They also earned 52% of the turnover of UK plc which is equivalent to £2,300 billion.

UK Gov: BEIS ActionPlan: 2022 to 2025.