# Decision No 553/2014/EU of the European Parliament and of the Council of 15 May 2014 on the participation of the Union in a Research and Development Programme jointly undertaken by several Member States aimed at supporting research and development performing small and medium-sized enterprises (Text with EEA relevance), Article 2: Definitions

Extent: E+W+S+N.I.

For the purpose of this Decision the following definitions apply:
(1) ‘SME’ means a micro-, small- and medium-sized enterprises, as defined in Recommendation 2003/361/EC;
(2) ‘research and development performing SME’ means an SME which meets at least one of the following conditions:
(a) reinvests at least 10 % of its turnover to research and development activities;
(b) dedicates at least 10 % of its full-time equivalents to research and development activities;
(c) has at least five full-time equivalents (for SME with no more than 100 full-time equivalents) for research and development activities; or
(d) has 10 full-time equivalents (for SME with over 100 full-time equivalents) for research and development activities.

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Source: https://www.legislation.gov.uk/eudn/2014/553/article/2 (the official version)
Page: https://openlegislation.uk/eu-decision-2014-553/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.