micro business enterprises
October 3, 2006 11:10am CST
what is the meaning of micro business enterprises and different is it from small business enterprises?
3 Oct 06
To redefine micro-enterprises, and small and medium-sized enterprises in terms of their size, i.e. the number of persons occupied and the turnover or the balance-sheet total. The definition aims to ensure that the benefit of access to national SME support mechanisms and European programmes supporting SMEs is reserved exclusively for those enterprises which have the characteristics of real SMEs (without the economic strength of larger groupings). The main reasons for amending the current definition , which will continue to be applied until 31 December 2004, are the inflation and productivity growth since 1996. Medium-sized enterprises Medium-sized enterprises have between 50 and 249 occupied persons. The turnover threshold will be raised to 50 million and the threshold for the balance-sheet total to 43 million. Small enterprises Small enterprises have between 10 and 49 occupied persons. The turnover threshold and the balance-sheet total will be raised to 10 million. Micro-enterprises Micro-enterprises have fewer than 10 occupied persons. A threshold of 2 million for the turnover and the balance-sheet total will be introduced.