The technical definition of SMEs varies from country to country but is usually based on employment, revenue (assets) or a combination of the above two characteristics. More specifically, according to the new European SME definition every SME is a non-subsidiary, independent firm with between 10 and 250 employees (European Commission, Enterprise and Industry Publications, 2005). The number of employees varies across countries. While the most frequent upper limit designating an SME is 250 employees, the United States considers SMEs to include firms with fewer than 500 employees. Small firms are generally those with fewer than 50 employees, while micro-enterprises have at most 10, or in some cases 5, workers.