Is your business an SME? Do you know what and SME is?
Small and Medium sized Enterprises.
Information is based on a review of the MSME Entrepreneurship Policy as at December 2016, the decision was taken that the critical criteria for the definition of MSMEs would be based on turnover with employment being secondary. The Policy Review team advised recently that the decision has been taken to retain the employment levels as defined in the original 2013 policy and which is aligned to what is defined regionally.
The revised definition, therefore, incorporating the old employment definition and the new sales/turnover definition is outlined below:
Previous sales definition
|TOTAL ANNUAL SALES/TURNOVER||TOTAL ANNUAL SALES/TURNOVER|
|Micro||≤ 5||≤J$10 million||≤J$15 million|
|Small||6 – 20||>$10 million ≤ J$50 million||>$15 million ≤ J$75 million|
|Medium-sized||21 – 50||>J$50 million ≤J$150 million||>J$75 million ≤J$425 million|