SME

Small and medium-sized enterprises, so the SMEs ( according to the European standards those are the ones hiring from 10 up to 250 employees, while the companies with less than 10 employees onboard are defined as micro companies) account for 99% of all firms in the European Union, contribute most of total employment and are an essential element of every developing economy. In the UK alone there are 97.000 SMEs formed each year! SMEs spend between 45% and 60% of sales revenue on procurement of raw materials and professional services. Small business owners are increasingly subscribing to cloud-based software services too.