SME Full Form | Full Form of SME
SME Full Form - Small and Medium-sized Enterprises
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Small and Medium-sized Enterprises
- Full Form of SME stands for Small and Medium-sized Enterprises. They’re also called Small and Medium Enterprises or small and medium-sized businesses (SMBs).
- The small and medium enterprises have a particular number of employees and also the investment in the plant and machinery cost falls within a particular level of amount.
- Small and Medium Enterprises play a really important role in the development of any country and growth of that country's industrial economy.
- They also motivate people for driving innovation and competition in many economic sectors.
Workforce and Turnover
- The workforce and turnover of small and medium sized enterprises vary according to the various countries.
- In India, under section 7 of the Micro, Small and Medium Enterprises Development (MSMED) Act 2006, Indian government specifies the size of micro, small and medium enterprises.
In Case of Manufacturing Enterprises
- Micro Enterprises : Investment in the plant and machinery doesn't exceed 25 lakh rupees.
- Small Enterprises : Investment in the plant and machinery is over 25 lakh rupees but doesn't exceed 5 crore rupees.
- Medium Enterprises : Investment in the plant and machinery is over 5 crore rupees but doesn't exceed 10 crore rupees.
In case of Service Enterprises
- Micro Enterprises : Investment in equipments doesn't exceed 10 lakh rupees.
- Small Enterprises : Investment in equipments is over 10 Lakh rupees but doesn't exceed 2 crore rupees.
- Medium Enterprises : Investment in equipments is over 2 crore rupees but doesn't exceed 5 crore rupees.