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A Small to Medium Sized Enterprise is any business or company defined by its revenue being below $20m (ATO Definition)
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SME's are the fastest growing sector of most economies around the world
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SME's employ over five million Australians, or 63% of all workers
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Over 1.2 million SMEs represent more than 96% of all business and 33% of GDP
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SME's are Australia’s largest employer
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Of the 1.2 million SMEs in Australia, more than two thirds employ between one and four people
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A further 180,880 SMEs employ between five and 19 people
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This means that 93.5 per cent of people employed by SMEs in Australia are employed by what can be described as ‘micro SMEs’, namely companies with less than 20 employees.
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There are over 100,000 businesses with an annual turnover between $2M and $100M accounting for $16 billion or 9% of Commonwealth revenue.
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During 2002/03 there were 47,000 new SMEs to market and between the years 1983 – 2000 the number of SMEs grew by 3.5% as compared to large business employing 200 or more which grew by 2.0%.
