ISO/IEC 29110
According to the Organization for Economic Co-operation and Development's SME and Entrepreneurship Outlook report of 2005,7 small and medium enterprises “constitute the dominant form of business organization in all countries worldwide, accounting for over 95 percent and up to 99 percent of the business population, depending on country.” In Europe, for instance, 85 percent of IT sector companies have 10 or fewer employees. With this in mind, ISO/IEC 29110 introduced the term “VSE,” defined as “an enterprise, an organization, a department, or a project having up to 25 people.”