Identifying and settling with a uniform and simplified definition of SMEs can be quite a daunting task. First, the criteria and the definition threshold are not only different between developed and developing countries. They are most often separated based on different combinations of criteria, such as employment, turnover and even assets. Various national policies and economic sectors also shape its characterization. NOC 1DEF 4 explains that over time, various practices have been used in all countries. In the United Kingdom, the definition threshold is based solely on the number of employees. This is the case of Greece and Mexico. In the case of Canada, the focus is more on revenue, while Portugal uses a mixture of turnover and turnover. employees as a criterion for defining SMEs.DEF 7, The definition of SMEs recommended by the European Commission in 2003 indicated the integration of the central principles of employees, net turnover and balance sheet total. For use by member countries of the European Union. The definition has come a long way since its previous recommendation in 1996, which did not include micro-enterprises. This was made possible after a series of consultations and explorations with stakeholders. For a more robust definition, DEF 4 however suggests that a more distinct definition is needed between micro, small and medium enterprises for better targeting. There have been various inconsistencies in the definition of SMEs by various multilateral and bilateral institutions. DEF 4, The World Bank defines a small business the same as a range of 50 employees, but extends to a range of 300 employees for medium-sized businesses. Which reduces the total assets and sales to 15 million euros each. NO...... middle of paper ...... employment and assets which is the "missing middle" problem, as this definition first illustrated by DEF 17. They further highlighted the " gap” suggesting arrangements for upward mobility of small businesses to transform into medium-sized businesses while preserving their job creation potential to absorb the growing workforce. DEF 13, as already mentioned. A survey conducted by BSCIC (Bangladesh Small and Cottage Industries Corporation) in 1978 provided the first data on SMEs to understand how many SMEs were present in Bangladesh at that time. Unfortunately, the reliability of this survey has been questioned by many and has never been updated in subsequent years. It was not until 2003 that a number of local and international collaborations reincarnated the survey as a National Private Sector Enterprise Survey. All this information