WHAT DE­FINES AN SME?

Finweek English Edition - - COVER STORY -

Fin­week’s def­i­ni­tion of SMEs is based upon the Na­tional Small Busi­ness Act 1996, as amended in 2004, which gives var­i­ous def­i­ni­tions for each in­dus­try sec­tor. Where the def­i­ni­tions are con­sis­tent across sec­tors, how­ever, is with re­gard to the num­ber of em­ploy­ees. A “small” en­ter­prise is de­fined as hav­ing up to 50 em­ploy­ees, and a “medium” en­ter­prise from 51 to 200. Com­pa­nies with up to 20 em­ploy­ees are de­fined as “very small” en­ter­prises. IT con­sul­tancy World Wide Worx es­ti­mated that there are around 650 000 ac­tive SMEs in South Africa in its 2012 SME Sur­vey.

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