A company which fulfils two of the following three criteria.
1. Its turnover is not more than £2.8 million in the year.
2. Its total assets are not more than £1.4 million.
3. It has not more than 50 employees. Dresdner Kleinwort Wasserstein financial glossary
Note that this definition is only relevant for accounting purposes, not tax purposes.
See corporation tax rates for more detail on tax rules. Dresdner Kleinwort Wasserstein financial glossary
* * *
small company UK US noun [C]
► a company that does not employ many people, and has a low volume of sales: »
There is a need for small companies to grasp e-commerce, globalisation, and the internet.
»small company funds/investments/shares
»It's the small companies that fuel the future with new ideas.
Financial and business terms. 2012.