What is an SME?
A small to medium-sized enterprise, known as an SME, is a business that is defined by its number of employees and the amount of its annual revenues. Although the thresholds vary depending on the country, in the US a small to medium-sized enterprise (SME) typically has 500 employees or less.SMEs are critical to a country's economy, often generating more revenue and employing more people than large corporations. Types of small to medium-sized enterprises include companies providing professional services, technology, healthcare, hospitality, financial services, and more. SMEs are often considered to be entrepreneurial, innovative and can experience rapid growthSmall to medium-sized enterprises have unique technology needs due to the nature of their operations, limited funding, and small IT teams. When selecting new technical solutions, SMEs look for flexible features and pricing, and a vendor that will partner with them to provide tools that meet their business requirements.