Small and Medium Enterprises – The Drivers of Change


Defining SMEs

The substantial role of small and medium enterprises (SMEs) in the domestic economy as an agent of growth has generally been recognised throughout the world. How are small and medium sized enterprises defined? According to the United Nations Industrial Development Organisation (Unido), the definition of SMEs is a significant issue for policy development and implementation, and depends primarily on the purpose of classification. Therefore, there are various definitions and criteria of SMEs adopted by different countries – some refer to the number of employees as their key criterion for SMEs, others use invested capital, whereas some use a combination of the number of employees, invested capital, sales and industry type.

To read the rest of the article and to access our e-Archive, subscribe to us for RM150 a year.

Related Articles

Mar 2016

Transgenders Continue to Fight for Acceptance

Tolerance and respect – that's all they want.

Oct 2014

A brewery of cultures

At Antarabangsa in George Town, the mingling of cultures takes place at the bottom of a beer bottle.

Apr 2017

Charity Starts at Home for the Aged

Staff and volunteers brighten the days of residents at Silver Jubilee.