<P> SMEs outnumber large companies by a wide margin and also employ many more people . For example, Australian SMEs make up 97% of all Australian businesses, produced one third of total GDP, and employ 4.7 million people . In Chile, in the commercial year 2014, 98.5% of the firms were classified as SMEs . In Tunisia, the self - employed workers alone account for about 28% of the total non-farm employment and firms with fewer than 100 employees account for about 62% of total employment . In developing countries, smaller (micro) and informal firms, have a larger share than in developed countries . SMEs are also said to be responsible for driving innovation and competition in many economic sectors . Although they create more jobs, there is also a majority of job destruction / contraction . </P> <Table> <Tr> <Td> </Td> <Td> This section needs expansion . You can help by adding to it . (January 2017) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This section needs expansion . You can help by adding to it . (January 2017) </Td> </Tr> <P> SMEs are important for economic and social reasons, given the sectors role in employment . Due to their sizes, SME are heavily influenced by their Chief Executive Officers, a.k.a. CEOs . The CEOs of SMEs often are the founders, owners, and manager of the SMEs . The duties of a CEO in SME is difficult just like the CEOs of big companies . A CEO needs to strategically allocate her / his time, energy, and assets to direct the SMEs . Typically, the CEO Is the strategist, champion and leader for developing the SME or the prime reason for the business being a flop . </P>

The two broad business categories of small and medium enterprises are