What is a Small-to-Medium Business (SMB)?
Companies with between 10 and 500 employees are usually defined as a critical aspect of the digital ecosystem, offering numerous examples and case studies that illustrate its application across different industries and scenarios.
Example
An example of an SMB could be a family-owned bakery operating in a local community. The bakery may have a small team of employees, including bakers, sales staff, and administrative personnel. While it may not have the scale or resources of a large corporation, the bakery serves its local market with freshly baked goods such as bread, pastries, and cakes.
The bakery’s annual revenue and number of employees would classify it as an SMB. Despite its smaller size, the bakery plays a significant role in the local economy by providing employment opportunities, supporting local suppliers, and contributing to the community’s social fabric.
Another example of an SMB could be a software development startup with a team of developers, designers, and marketers. While the startup may be small in size compared to established tech giants, it has the agility and innovation to develop and launch new software products or services to meet market demands. The startup’s growth potential and impact on the technology sector classify it as an SMB.