any entity engaged in an economic activity, irrespective of its legal form, that is characterized by number of employees, annual turnover, and/or annual balance sheet which falls below established limits

NOTE 1 to entry: Within European Union, fewer than 250 persons, annual turnover not exceeding 50 million euros and annual balance not exceeding 43 million euros. (Commission recommendation of 6 May 2003 concerning the definition of micro, small, and medium-sized enterprise.)