Small and mid-size enterprises (SMEs) are businesses with less than a certain amount of money, assets, or employees. Each country has its own definition of what constitutes a small and medium-sized enterprise. Certain size criteria must be met and occasionally the industry in which the company operates is taken into account as well. They outnumber large firms considerably, employ vast numbers of people and are generally entrepreneurial in nature, helping to shape innovation. Small and mid-size enterprises can exist in almost any industry, but it is more likely they reside within industries requiring fewer employees and requiring smaller upfront capital investments.