SMEs stands for Small and Medium-sized Enterprises. These are businesses that fall within a specific size range in terms of their number of employees, annual revenue, or other criteria. SMEs are a critical part of many economies worldwide, contributing to job creation, innovation, and economic growth.
Key characteristics of SMEs include:
It's important to note that the specific criteria for categorizing a business as an SME can vary by country or region. These criteria may include factors such as the number of employees, annual revenue, or industry classification. The goal of identifying and supporting SMEs is to promote economic development, encourage entrepreneurship, and foster a competitive business environment.
The Sales Glossary is a compendium of all the most commonly used terminology in sales strategy. Many of the concepts listed here are used when implementing a CRM system or a digital sales funnel, no matter if they are legacy systems or an online CRM. See also our blog that deals with sales techniques, marketing and sales culture.