SME (Small and Medium-sized Enterprise)
A business below set thresholds for staff, turnover and balance sheet size.
In the UK, SMEs are generally defined by having fewer than 250 employees and turnover under set limits. Many startup schemes — R&D relief, grants and finance programmes — target SMEs. Understanding the classification helps founders access the right support.
Examples
A startup qualifies as an SME for enhanced R&D relief. — Grant eligibility is restricted to SMEs.
How it relates to The Startup Foundry
As a programme for UK early-stage companies, the Foundry helps SMEs access investment and the schemes available to them.