What is SMB?
SMB definition: SMB is an acronym of Small- To Medium-Sized Business; they make up the majority of businesses in any given country.
The legal requirements to be considered an SMB change from country to country. But, the two most common deciding factors are:
- Employees: how many people work for the business
- Income: how much money the business generates
SMBs are important to economies as they make up a large portion of jobs and the overall national GDP.