GK
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
10-49 persons employed.
|
|
|
250 or more persons employed.
|
|
|
50-249 persons employed.
|
|
|
less than 10 persons employed.
|
Detailed explanation-1: -In small and medium-sized enterprises (SMEs) employ fewer than 250 people. SMEs are further subdivided into micro enterprises (fewer than 10 employees), small enterprises (10 to 49 employees), medium-sized enterprises (50 to 249 employees). Large enterprises employ 250 or more people.
Detailed explanation-2: -A micro business is a type of small business that employs fewer than 10 people, according to the Small Business Association, while small businesses can include businesses with up to 500 employees.
Detailed explanation-3: -A micro-enterprise (or microenterprise) is generally defined as a small business employing nine people or fewer, and having a balance sheet or turnover less than a certain amount (e.g. €2 million or PhP 3 million).
Detailed explanation-4: -The Small Business Administration (SBA) defines a small business as a firm that has fewer than 500 employees. This means that many highly valued startups in the US fit within this definition of small businesses.