MSME stands for Micro, Small, and Medium Enterprises. These are businesses that are classified by their size, based on their investment and turnover. The definition of MSME varies by country, but in general, these businesses are characterized by having fewer employees and lower revenue than larger corporations.
Micro enterprises typically have up to 10 employees and a low investment threshold, while small enterprises have up to 50 employees and a higher investment threshold. Medium-sized enterprises have up to 250 employees and a higher investment threshold than small enterprises.
MSMEs play a significant role in the economy of many countries, as they often contribute to job creation, innovation, and economic growth. They are also important for poverty reduction and income generation, especially in developing countries. Governments and international organizations often provide support and incentives to MSMEs to help them grow and succeed.
