What is Micro and Small Enterprises?

Micro and Small Enterprises (MSEs) are businesses characterized by their size, typically defined by the number of employees and annual turnover. Micro enterprises usually have fewer than 10 employees and low revenue, while small enterprises generally employ up to 50 people and have higher revenue thresholds. MSEs play a crucial role in economic development by fostering innovation, creating jobs, and contributing to local communities. They are often supported by various government initiatives to enhance their growth and sustainability.