What is what does sme stand for?

SME stands for Small and Medium-sized Enterprises. These are businesses with a limited number of employees, and revenues that fall below a certain threshold. The exact definition of an SME varies by country, but generally, they are seen as vital contributors to the economy, providing employment and serving local markets. SMEs can include a range of industries, from retail and service businesses to tech startups and manufacturers. They may face unique challenges in terms of accessing capital and resources, but many also benefit from nimble, adaptable business models that allow them to quickly respond to changing market conditions.