SME (Small and Medium Enterprise)

A small or medium sized business. There is no single legal definition in Australia, and the threshold shifts with who is measuring: the ATO commonly treats a small business as one under 10 million dollars in aggregated turnover, the Fair Work system defines a small business by headcount, and individual lenders set their own limits again. In lending, SME usually signals a business borrowing under a commercial or business finance policy rather than a large corporate one.