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Home page Legislation users guide Definitions in the late payment legislation

Definitions in the late payment legislation

What is a public sector body?

A public sector body is any Government Department, Government Agency, Non-Departmental Public Body, and local or public authority.

What is a representative body?

A "representative body" is an organisation established to represent the collective interests of small and medium-sized enterprises in general or in a particular sector or geographical area.

How is a SME (small and medium-sized enterprise) defined?

Enterprises qualify as micro, small and medium-sized enterprises (SMEs) if they fulfil the criteria laid down in the Recommendation which are summarized in the table below. In addition to the staff headcount ceiling, an enterprise qualifies as an SME if it meets either the turnover ceiling or the balance sheet ceiling, but not necessarily both.

Enterprise category

Headcount

Turnover

or

Balance sheet total

medium-sized

< 250

≤ € 50 million

≤ € 43 million

small

< 50

≤ € 10 million

≤ € 10 million

micro

< 10

≤ € 2 million

≤ € 2 million

For more information of an SME definition, including useful user guides, visit the European Commission website.

 
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