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  "documentTitle": "P2ErikHeller",
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  "notes": "The slide provides transparency on the survey's scope, including the definition of SMEs, exclusion criteria (micro-SMEs), and industry representation.",
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      "text": "sample size: 1,000",
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      "text": "Our survey struck a balance across sectors, with 37% of respondents from industries such as manufacturing, mining and agriculture; 52% from services such as transportation, healthcare and technology; and 12% from other industries. Among all the SMEs we surveyed, 63% were backed by venture capitalists, meaning we have a sizeable representation of high-growth companies. We also have an estimated +/- 3.5% margin of error, with a 90% confidence interval.",
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      "text": "We grouped FinTech services into four broad categories: banking and payments, financial management, financing, and insurance. We looked at FinTech services specifically used by SMEs, such as mPOS machines and invoice finance solutions, which can differ from those used by consumers.",
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      "text": "There is no global agreement on what constitutes an SME, with criteria varying even from sector to sector in some markets. Each of the five countries we surveyed has a different definition based on employee headcount and annual revenues. For example, a medium-sized enterprise in China, per government standards, has a headcount that can range from 200 employees in the wholesale sector to 3,000 in the construction sector, while in the UK, the headcount for SMEs generally reaches a maximum of 250.",
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      "text": "Our SME survey is based on 1,000 online interviews with senior decision makers of SME organizations between 15 and 30 January 2019. Senior decision makers were defined as owners, managing directors, CEOs and other c-level executives responsible for business strategy, operations or financial decisions. We interviewed 200 organizations per market in two developed countries (the UK and the US) and three emerging countries (China, Mexico and South Africa). Given the fact that the respondents completed an online survey, our analysis represents the views of digitally active SMEs.",
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      "text": "To accommodate these variances, we interviewed SMEs with up to 1,000 employees in all five markets. At the lower end of the spectrum, we excluded micro-SMEs, e.g., solo traders or firms with fewer than 10 employees, since we believe these small enterprises behave differently–and have different needs–than their larger counterparts. We also set a cap of US$75 million in annual revenues.",
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