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Have your say on SME Definition

The European Commission is reviewing how micro, small and medium-sized enterprises (SMEs) are defined.

Written by Narinder Williams on 12 January 2018

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The European Commission is reviewing how micro, small and medium-sized enterprises (SMEs) are defined.

 

The goal of this review is to ensure that the SME Definition remains fit for purpose and meets its objectives in the current economic environment. This questionnaire will help assess to what extent the current SME Definition is appropriate and assess options for possible changes, so that European small businesses can continue to receive dedicated policy support.

 

By providing one common definition of what is to be considered a 'genuine' SME, the main objectives of the Recommendation are to:

  • create a level playing field and avoid distortion of competition between enterprises;
  • ensure equal treatment of all SMEs; and
  • improve the consistency and effectiveness of SME policies.

 

Currently staff headcount criteria (less than 250 in annual full-time equivalent) is considered the most important one and must be met.

 

In order to reflect the performance of an enterprise compared to its competitors and differences in these sectors (e.g. the trade and distribution sector having by its nature higher turnover figures than the manufacturing sector), financial parameters relating to turnover (≤ EUR 50 million) or the balance sheet total (≤ EUR 43 million) must be met. The Definition provides for the possibility of exceeding one of these two financial ceilings.

 

To learn more and take part in this survey please use this link: https://surveys.bradford.gov.uk/snapwebhost/s.asp?k=151507665332

 

Please note this survey closes 10th March 2018.