{"id":8151,"date":"2017-09-11T15:36:50","date_gmt":"2017-09-11T15:36:50","guid":{"rendered":"http:\/\/progresomicrofinanzas.org\/?p=8151\/"},"modified":"2017-11-16T11:57:12","modified_gmt":"2017-11-16T11:57:12","slug":"updated-criteria-for-defining-smes","status":"publish","type":"post","link":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/updated-criteria-for-defining-smes\/","title":{"rendered":"Updated criteria for defining SMEs"},"content":{"rendered":"
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On 15th August 2017, the government department for Entrepreneurs and Small & Medium Enterprises (<\/span>SEPyME<\/span>) published Resolution 340-E\/2017 updating the criteria defining SMEs, setting out a single, clear definition for both general and the special categories.<\/span><\/p>\n

Quantitative limits: total annual sales revenues by sector<\/b><\/p>\n

The first classification under this regulation for whether an enterprise is recognised as a micro, small or medium sized company is a financial threshold that varies depending on the company\u2019s activity (agriculture, industry and mining, trade, services, construction).<\/span><\/p>\n

Total annual sales revenues must not exceed the sums specified in Appendix I of the regulation; total annual sales will be understood as the average over the last three tax years, excluding taxes that may apply, and bearing in mind that up to 50% can be deducted from export sales. <\/span><\/p>\n

Should the company not have been operating for three years, total annual sales revenues will be calculated by taking the average from the tax year just ended. In the absence of such information, a proportional ratio will be calculated on the basis of accumulated monthly sales to date.<\/span><\/p>\n

The regulation establishes the following brackets of annual sales for a company to be considered micro, small or medium:<\/span><\/p>\n