Business News

Other News Articles:

Increased use of ecommerce by SMEs

Opting out of the working time directive

ICA call for simplification of Initiatives

Guidelines should help SMEs avoid VAT fraud

New recommendations on money laundering

Insurers offer savings to vetted companies

CBI urges better help on export credit

Business Link Sued over adviser

New worries about identity fraud

Inland Revenue relents on home workers

Revisions in UK economic growth forecasts

SMEs warned over telemarketing practices

New EC definitions of enterprise sizes

The European Commission has adopted a new definition of micro, small and medium sized enterprise (SMEs).

The new definition will be used as of 1 January 2005. It maintains the different staff thresholds which categorises micro, small and medium-sized enterprise but provides for a substantial increase of the financial ceilings (turnover or balance sheet total) as a result of inflation and productivity increases since 1996, the date of the first Community SME definition.

Medium
Headcount = 51 - 250
Turnover = up to 50m euros or
Balance Sheet Total = up to 43m euros

Small
Headcount = 11 - 50
Turnover = up to 10m euros or
Balance Sheet Total = up to 10m euros

Micro
Headcount = up to 10
Turnover = up to 2m euros or
Balance Sheet Total = up to 2m euros

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