Business Studies is awesome.

Definition:

SMEs are small to medium enterprises. 

There are over 2 million businesses in Australia, with 98% of them being SMEs. They can have a wide range of characteristics and operate in all industries. There are some common features, including:

• Main definition is number of employees: Typically SMEs have less than 20 employees, but the ABS definition is between 5-199 employees. (Small—5 to 20; Medium—20 to 199).

• They are usually independently owned and operated, service local markets, not dominant in industry, offer personalised service, owner responsible for much of the start up capital and decision making for the business - see Size.