SME stands for Small and Medium Enterprises<\/strong> also known as Small and Medium-sized Enterprises (SMBs). They have a limited number of workers and their investments in assets fall below a certain amount. They are important in the development and growth of the industrial economy of a country and motivate citizens to boost competitiveness and innovation.<\/p>\n Under section 7 of the 2006 Micro, Small & Medium Enterprises Creation Act, we define SME in India by the amount of investment in each sector.<\/p>\n In Case of Industrial Enterprises<\/strong><\/p>\n 1<\/strong>. Micro Enterprises \u2013 up to 25 lakh Rs of expenditure on the plant and equipment.<\/p>\n 2. <\/strong>Small Enterprises \u2013 Expenditure on plant and equipment is between 25 lakh Rs and 5 crore Rs.<\/p>\n 3<\/strong>. Medium Enterprises \u2013 Revenue in the plant and equipment is between 5 crore Rs and 10 crore Rs.<\/p>\n In the case of Service Companies<\/strong><\/p>\n 1. <\/strong>Micro Enterprises \u2013 Spend up to 10 lakh Rs on tools and equipment.<\/p>\n 2. <\/strong>Small Enterprises \u2013 Spending on tools and equipment is between 10 Lakh Rs and 2 crore Rs.<\/p>\n 3. <\/strong>Medium Enterprises \u2013 Spending on tools and equipment is between two crore Rs and 5 crore Rs.<\/p>\n","protected":false},"excerpt":{"rendered":" What is the full form of SME? SME stands for Small and Medium Enterprises also known as Small and Medium-sized Enterprises (SMBs). They have a limited number of workers and their investments in assets...<\/p>\n","protected":false},"author":5,"featured_media":105943,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25023],"tags":[26308,26309,26307,26310],"class_list":["post-104492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-full-form","tag-full-form-of-sme","tag-small-and-medium-enterprises","tag-sme","tag-types-of-smes"],"yoast_head":"\nTypes of SMEs<\/h3>\n