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Small and Medium Enterprises
Small and Medium Enterprises (SMEs) are the backbone of national economies worldwide. In the United States, there are 30 million SMEs that account for nearly two-thirds of net new private sector jobs in recent decades. Small and mid-size enterprises are businesses that maintain revenues, assets or a number of employees below a certain threshold. Every country has its own definition of what is considered a small and medium-sized enterprise.
Small and mid-size enterprises (SMEs) play a significant role in emerging economies. SMEs create 80% of the new jobs in emerging economies. Also, most people with formal jobs in these emerging economies find work in an SME. Over half of SMEs do not have access to capital to fuel growth. They typically rely on personal funds and loans from friends or families, known as angel investors, rather than traditional loans.
Mid to Large Corporates
Focused on company sizes 250 staff and greater, the corporate sector covers non-financial and financial corporation sectors. Non-financial corporation sector includes all private and public enterprises that produce goods and /or provide non-financial services to the markets. In some countries, it also includes quasi-corporations consisting of sole proprietors and unincorporated partnerships.
Financial corporations consist of all resident corporations or quasi-corporations principally engaged in financial intermediation, that is, channeling funds from lenders to borrowers, as well as in auxiliary financial activities which are closely related.
Financial services are the economic services provided by the finance industry, which covers a broad range of businesses that both invest and manage money. This includes such institutions as private equity/venture capital, hedge funds, investment banks, funds management, credit-card companies, insurance companies, and consumer-finance companies.
The International Monetary Fund (IMF) estimated that the total global economy was worth USD$77.6 trillion in 2014. If global financial services kept up its 6/0% growth rate for the years between 2012-2014, then its 2014 figure would be USD$13.1 trillion.
The Public Sector is that part of the national economy providing basic goods or services that are either not, or cannot be, provided by the private sector. It consists of national, state and local governments, agencies, and chartered bodies. This sector is one of the largest in the economy. In the US, the sector accounts for about 20% of the national economy.