INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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50
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100
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250
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None of the above
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Detailed explanation-1: -Small businesses have 5–99 employees. Medium businesses have 100–499 employees.
Detailed explanation-2: -SMEs make up the majority of the businesses operating around the world. Generally, they are independent firms with less than 50 employees. However, the maximum number of employees is different from one country to the next. For most companies, the upper range sits around 250.
Detailed explanation-3: -Small and medium enterprises (SMEs) are defined as enterprises with less than 250 persons engaged.
Detailed explanation-4: -Broadly speaking, the definition of an SME is a business which operates under a certain threshold in terms of revenue and number of employees. The SME abbreviation stands for small to medium-sized enterprise.
Detailed explanation-5: -MSMEs account for 90% of businesses, 60 to 70% of employment and 50% of GDP worldwide. As the backbone of societies everywhere they contribute to local and national economies and to sustaining livelihoods, in particular among the working poor, women, youth, and groups in vulnerable situations.