Every day, in every corner of the world, at every minute, small- and medium-sized enterprises (SMEs) are opening up stores, serving clients, delighting customers (or not). And while the classic SME picture may be the storefront, SME reality means constant commerce, updating web presences to buy, sell and service everything; work that begins before dawn and ends long after night has fallen.
While precise measurements are difficult due to differing definitions of SMEs, research by the World Bank has indicated that these vital enterprises employ more than half of all private sector workers globally, and can comprise more than 90% of all the world’s existing businesses. In the United States alone, the U.S. Small Business Administration has estimated that the number of SMEs currently operating in America exceeds 28 million firms.
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