Research Article

A Prioritization Model of Strategies for Small and Medium Firms in Less-Developed Countries: A Tanzania Case

Table 1

SME definitions used by multilateral institutions.

InstitutionNumber of employeesTurnover (euro)
MicroSmallMediumMicroSmallMedium

World Bank1–9<5050–249Maximum 15,000,000
Asian Development BankNo official definition, apply, only definitions of individual national governments.
African Development Bank1–9≤50NilNil
EUNil<5050–249<€2 million<€10 million<€50 million
SADC & ECOWAS0–910–4950–249Nil
Developed countries0–910–4950–249≤€2 million≤€10 million≤€43 million

Note: 1euro = 1822.32USD, 2008; source: the authors have extracted from BED.