| Start-up | Start-ups are classified as business in their initial stage of business |
| SMEs | Full-time equivalent employees of 11–50 in small enterprises and 51–250 in medium enterprises (Department of Small Business Development, 2019). The total annual turnover, indicated in millions, varies by size and sector |
| Micro-enterprises | Micro-enterprises are characterised as having 0–10 employees (Department of Small Business Development, 2019). The total annual turnover, indicated in millions, varies by size and sector |
| Large (big business and MNEs) | Large enterprises employ 250 or more people. Albeit MNEs conduct business in various countries with its subsidiaries and affiliates. MNEs possess considerable and wide human resources, finance, expertise and technology, as well as enjoy substantial competitive advantage |