Small and Medium-sized Enterprises, or SMEs, are businesses that maintain a limited scale of operations. They are typically categorized based on the number of employees and annual revenue. SMEs play a crucial role in the economy by creating jobs, fostering innovation, and contributing to local communities. SMEs can be found in various sectors, including retail, manufacturing, and services. They often face unique challenges, such as limited access to financing and resources compared to larger corporations. Despite these challenges, SMEs are vital for economic growth and diversification, driving competition and providing essential goods and services.