Siliconindia Magazine

SME Lending Companies

Small and midsize enterprises (SMEs) are businesses that maintain revenues, assets, or a number of employees below a certain threshold. Each country has its own definition of what constitutes a small and midsize enterprise. Certain size criteria must be met, and occasionally, the industry in which the company operates is taken into account as well.Role of SMEs in an Economy: Though small, SMEs play an important role in an economy. They outnumber large firms, employ vast numbers of people, and are generally entrepreneurial in nature, helping to shape innovation. Small and midsize enterprises can exist in almost any industry but are more likely to reside within industries requiring fewer employees and smaller upfront capital investments. Common types of SMEs include legal firms, dental...