Question

What are the characteristics of small micro and medium enterprises?

Answer 1

Ventures occupied with giving or delivering services and whose interest in equipment (unique expense barring area and building and furniture, fittings, and different things not directly identified with the assistance delivered or as might be informed under the MSMED Act, 2006 are indicated beneath.

• A microenterprise is a venture where the interest in equipment doesn’t surpass Rs. 10 lakh;

• A small venture is an undertaking where the interest in machinery is more than Rs.10 lakh yet doesn’t surpass Rs. 2 crores;

• A medium venture is an undertaking where the interest in machinery is more than Rs. 2 crores yet doesn’t surpass Rs. 5 crores.