Specificities and Peculiarities in Determining the Nature of the Concept "Small and Medium-Sized Enterprises"

SMEs are one of the most widely used business models in today's economy. This explains the great scientific and applied interest in them as one of the elements in the economic system that is subject to constant study. For the purposes of SME management, the essence of this concept needs to be clearly defined. There are two approaches to defining it, quantitative and qualitative. In the specialist literature, each of approaches has both advantages and disadvantages. The present study provides a critical analysis of existing approaches, on the basis of which a new comprehensive approach is proposed to define the concept of SMEs