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What is an SME?
SMEs are companies with fewer than 250 employees, and either an
annual turnover not exceeding 40 million euros, or an annual balance-sheet
total not exceeding 27 million euros. (European Commission Recommendation
of April 3, 1996). The turnover and balance sheet average will increase
to 50 million euros and 43 million euros respectively in 2005 (European
Commission, Commission Recommendation of May 8, 2003).
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