7 Medium Enterprise Examples That Inspire Growth and Success
Medium enterprises are businesses that have between 50 and 250 employees and a turnover of less than 50 million euros. They are often considered as the backbone of the economy, as they provide jobs, innovation and competitiveness. But what are some examples of medium enterprises that have achieved growth and success in their fields? Here are seven of them:
Shopify
Shopify is a Canadian e-commerce platform that allows anyone to create an online store and sell their products. Shopify started as a small online store selling snowboards in 2004, and now has over 1.7 million merchants in more than 175 countries. Shopify is a medium enterprise that has grown rapidly by offering a simple, flexible and scalable solution for online commerce.
– Spotify: Spotify is a Swedish music streaming service that offers access to millions of songs, podcasts and videos. Spotify was founded in 2006, and now has over 365 million monthly active users and 165 million premium subscribers. Spotify is a medium enterprise that has revolutionized the music industry by providing a personalized, social and convenient way to listen to music.
Airbnb
Airbnb is an American online marketplace that connects travelers with hosts who offer unique accommodations around the world. Airbnb was launched in 2008, and now has over 4 million hosts in more than 220 countries and regions. Airbnb is a medium enterprise that has disrupted the travel sector by enabling people to experience different cultures and lifestyles through local stays.
Mailchimp
Mailchimp is an American email marketing service that helps businesses and individuals communicate with their audiences. Mailchimp was founded in 2001, and now has over 12 million customers and sends over 1 billion emails per day. Mailchimp is a medium enterprise that has grown organically by offering a user-friendly, powerful and affordable tool for email marketing.
Patagonia
Patagonia is an American outdoor clothing and gear company that is known for its environmental and social activism. Patagonia was established in 1973, and now has over 2,000 employees and annual sales of over $1 billion. Patagonia is a medium enterprise that has built a loyal customer base by creating high-quality products that last, and by supporting causes that protect the planet.
Lego
Lego is a Danish toy company that produces the iconic plastic bricks and other products. Lego was founded in 1932, and now has over 18,000 employees and annual revenue of over $6 billion. Lego is a medium enterprise that has maintained its popularity and relevance by fostering creativity, learning and fun for children and adults alike.
Netflix
Netflix is an American streaming service that offers a wide range of movies, TV shows, documentaries and original content. Netflix started as a DVD rental company in 1997, and now has over 209 million paid memberships in more than 190 countries. Netflix is a medium enterprise that has transformed the entertainment industry by providing a convenient, personalized and diverse platform for watching content.
These are just some of the medium enterprise examples that inspire growth and success. They show how medium enterprises can leverage their size, agility and innovation to create value for their customers, employees and stakeholders.
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Medium Enterprise Examples: A Global Perspective
Medium enterprises are businesses that fall below certain thresholds of revenue, assets or employees, depending on the country or region. They are often considered as the backbone of the economy, as they contribute to innovation, employment and growth. However, they also face many challenges, such as access to finance, markets and technology, as well as regulatory and environmental issues. In this article, we will look at some examples of medium enterprises from different parts of the world and how they are coping with the changing global demand in their industries.
Manufacturing: A Case Study from India
One of the most prominent sectors for medium enterprises is manufacturing, which accounts for about 16% of the GDP and 45% of the exports of India. One of the medium enterprises in this sector is **Saraf Electricals Pvt. Ltd.**, a manufacturer of biomass gasifiers that convert agricultural waste into clean energy. The company was founded in 1991 and has a turnover of about Rs. 8 crore ($1.1 million) and employs 50 people.
The company has been able to tap into the growing global demand for renewable energy solutions, especially in rural areas where grid electricity is unreliable or unavailable. The company exports its products to countries like Nepal, Bangladesh, Sri Lanka, Kenya, Uganda, Tanzania and Nigeria. The company also provides after-sales service and training to its customers, ensuring customer satisfaction and loyalty.
The company faces some challenges, such as high transportation costs, lack of skilled workers and competition from cheaper alternatives. However, the company has been able to overcome these challenges by investing in research and development, improving its product quality and efficiency, and expanding its market reach through online platforms and trade fairs. The company also benefits from various government schemes and incentives for promoting renewable energy and supporting medium enterprises.
Services: A Case Study from Chile
Another important sector for medium enterprises is services, which accounts for about 63% of the GDP and 28% of the exports of Chile. One of the medium enterprises in this sector is InnovaChile, a consulting firm that specializes in innovation management and technology transfer. The company was founded in 2007 and has a turnover of about $4 million and employs 40 people.
The company has been able to leverage its expertise and experience in helping clients from various sectors, such as mining, agriculture, health, education and tourism, to develop and implement innovative solutions that improve their productivity, competitiveness and sustainability. The company also helps clients to access funding opportunities, intellectual property rights and international networks for collaboration and knowledge exchange.
The company faces some challenges, such as high taxation rates, bureaucratic procedures and market saturation. However, the company has been able to overcome these challenges by diversifying its services portfolio, expanding its geographical coverage and partnering with other organizations, such as universities, research centers and public agencies. The company also benefits from various government programs and policies that foster innovation and entrepreneurship in Chile.
References:
http://seaf.com/wp-content/uploads/2014/10/Defining-SMEs-September-20081.pdf
http://ec.europa.eu/enterprise/policies/sme/files/sme_definition/sme_user_guide_en.pdf
https://www.feedough.com/small-and-medium-enterprises-sme/
https://www.mbaskool.com/business-concepts/marketing-and-strategy-terms/8583-sme-small-and-medium-scale-enterprises.html
https://www.indeed.com/career-advice/career-development/medium-and-small-enterprises
https://www.shopify.com/about
https://news.airbnb.com/about-us/
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