Mark Horner

The SME Market in Iceland

What is a Small to Medium Enterprise in Iceland?

Small and medium enterprises (SMEs) are businesses that maintain revenues, assets or a number of employees between certain thresholds. Each country has its own definition of what constitutes a small and medium-sized enterprise (SME). Certain size criteria must be met and occasionally the industry in which the company operates in is taken into account as well. Small and medium-size enterprises play a hugely important role in the economy. They outnumber large firms considerably, employ vast numbers of people and are entrepreneurial in nature, helping to shape innovation and support local communities.

  🇮🇸 ISK [179.208 GBP]    Atlantic/Reykjavik
The  SME Market in Iceland
Image: Adobe Stock Leonid Andronov #120566329

How big is the SME Market in Iceland?

Small and medium-size enterprises play an important role in the economy of Iceland. They outnumber large firms considerably, employ large numbers of people and are entrepreneurial in nature, helping to shape innovation and support local communities.

Iceland has a population of over 353,574 people.

What help is available for SMEs in Iceland?

Help for small and medium enterprises (SMEs) includes virtual peer-to-peer advisory boards. With our blended model utilising Zoom and supplemented by in person meetings we are able to support and grow businesses anywhere in the world. Our growing network of Regional Directors ensure that we have suitable people to help you whatever your language or time zone.

Help for small and medium enterprises (SMEs) includes virtual peer-to-peer advisory boards. With our blended model utilising Zoom and supplemented by in person meetings we are able to support and grow businesses anywhere in the world. Our growing network of Regional Directors ensure that we have suitable people to help you whatever your language or time zone.


Iceland has links with Åland Islands
🇮🇸 Kópavogur🇦🇽 Mariehamn    
Iceland has links with Azerbaijan
🇮🇸 Reykjavík🇦🇿 Baku    
Iceland has links with Bolivia
🇮🇸 Reykjavík🇧🇴 La Paz    
Iceland has links with Canada
🇮🇸 Akureyri🇨🇦 Gimli     🇮🇸 Reykjavík🇨🇦 Winnipeg    
Iceland has links with China
🇮🇸 Hafnarfjordur🇨🇳 Baoding     🇮🇸 Kópavogur🇨🇳 Wuhan    
Iceland has links with Germany
🇮🇸 Hafnarfjörður🇩🇪 Cuxhaven     🇮🇸 Hafnarfjordur🇩🇪 Cuxhaven     🇮🇸 Ísafjarðarbær🇩🇪 Kaufering     🇮🇸 Ísafjörður🇩🇪 Kaufering     🇮🇸 Hveragerði🇩🇪 Tarp    
Iceland has links with Denmark
🇮🇸 Húsavík🇩🇰 Aalborg     🇮🇸 Norðurþing🇩🇰 Aalborg     🇮🇸 Garðabær🇩🇰 Birkerød     🇮🇸 Hveragerði🇩🇰 Brande     🇮🇸 Reykjavík🇩🇰 Copenhagen     🇮🇸 Fjarðabyggð🇩🇰 Esbjerg     🇮🇸 Hafnarfjörður🇩🇰 Frederiksberg     🇮🇸 Hafnarfjordur🇩🇰 Frederiksberg     🇮🇸 Seltjarnarnes🇩🇰 Herlev     🇮🇸 Siglufjörður🇩🇰 Herning     🇮🇸 Reykjanesbær🇩🇰 Hjørring     🇮🇸 Blönduós🇩🇰 Horsens     🇮🇸 Hveragerði🇩🇰 Ikast     🇮🇸 Stykkishólmur🇩🇰 Kolding     🇮🇸 Skagafjörður🇩🇰 Køge     🇮🇸 Sauðárkrókur🇩🇰 Køge     🇮🇸 Garðabær🇩🇰 Næstved     🇮🇸 Kópavogur🇩🇰 Odense     🇮🇸 Akureyri🇩🇰 Randers     🇮🇸 Garðabær🇩🇰 Rudersdal     🇮🇸 Mosfellsbær🇩🇰 Thisted     🇮🇸 Akranes🇩🇰 Tønder     🇮🇸 Dalvíkurbyggð🇩🇰 Viborg    
Iceland has links with Estonia
🇮🇸 Hafnarfjörður🇪🇪 Tartu     🇮🇸 Hafnarfjordur🇪🇪 Tartu    
Iceland has links with England
🇮🇸 Akureyri🏴󠁧󠁢󠁥󠁮󠁧󠁿 Grimsby     🇮🇸 Reykjavík🏴󠁧󠁢󠁥󠁮󠁧󠁿 Kingston upon Hull     🇮🇸 Grindavík🏴󠁧󠁢󠁥󠁮󠁧󠁿 Penistone    
Iceland has links with Finland
🇮🇸 Hveragerði🇫🇮 Äänekoski     🇮🇸 Skagafjörður🇫🇮 Espoo     🇮🇸 Sauðárkrókur🇫🇮 Espoo     🇮🇸 Hafnarfjörður🇫🇮 Hämeenlinna     🇮🇸 Hafnarfjordur🇫🇮 Hämeenlinna     🇮🇸 Reykjavík🇫🇮 Helsinki     🇮🇸 Garðabær🇫🇮 Jakobstad     🇮🇸 Ísafjörður🇫🇮 Joensuu     🇮🇸 Ísafjarðarbær🇫🇮 Joensuu     🇮🇸 Fjarðabyggð🇫🇮 Jyväskylä     🇮🇸 Reykjanesbær🇫🇮 Kerava     🇮🇸 Akureyri🇫🇮 Lahti     🇮🇸 Stykkishólmur🇫🇮 Lappeenranta     🇮🇸 Seltjarnarnes🇫🇮 Lieto     🇮🇸 Skagaströnd🇫🇮 Lohja     🇮🇸 Mosfellsbær🇫🇮 Loimaa     🇮🇸 Fjallabyggð🇫🇮 Loviisa     🇮🇸 Akranes🇫🇮 Närpes     🇮🇸 Blönduós🇫🇮 Nokia     🇮🇸 Dalvíkurbyggð🇫🇮 Porvoo     🇮🇸 Garðabær🇫🇮 Rauma     🇮🇸 Húsavík🇫🇮 Riihimäki     🇮🇸 Norðurþing🇫🇮 Riihimäki     🇮🇸 Grindavík🇫🇮 Rovaniemi     🇮🇸 Árborg🇫🇮 Savonlinna     🇮🇸 Kópavogur🇫🇮 Tampere    
Iceland has links with Faroe Islands
🇮🇸 Húsavík🇫🇴 Fuglafjørður     🇮🇸 Norðurþing🇫🇴 Fuglafjørður     🇮🇸 Kópavogur🇫🇴 Klaksvík     🇮🇸 Reykjanesbær🇫🇴 Miðvágur     🇮🇸 Ísafjarðarbær🇫🇴 Runavík     🇮🇸 Ísafjörður🇫🇴 Runavík     🇮🇸 Egilsstaðir🇫🇴 Runavík     🇮🇸 Akranes🇫🇴 Sørvágur     🇮🇸 Reykjavík🇫🇴 Tórshavn     🇮🇸 Garðabær🇫🇴 Tórshavn     🇮🇸 Hafnarfjörður🇫🇴 Tvøroyri     🇮🇸 Hafnarfjordur🇫🇴 Tvøroyri     🇮🇸 Fjarðabyggð🇫🇴 Vágar     🇮🇸 Akureyri🇫🇴 Vágur    
Iceland has links with France
🇮🇸 Fjarðabyggð🇫🇷 Gravelines     🇮🇸 Grindavík🇫🇷 Jonzac     🇮🇸 Grundarfjörður🇫🇷 Paimpol    
Iceland has links with Greenland
🇮🇸 Hafnarfjörður🇬🇱 Ilulissat     🇮🇸 Hafnarfjordur🇬🇱 Ilulissat     🇮🇸 Dalvíkurbyggð🇬🇱 Ittoqqortoormiit     🇮🇸 Akureyri🇬🇱 Narsaq     🇮🇸 Reykjavík🇬🇱 Nuuk     🇮🇸 Akranes🇬🇱 Qaqortoq     🇮🇸 Húsavík🇬🇱 Qeqertarsuaq     🇮🇸 Norðurþing🇬🇱 Qeqertarsuaq     🇮🇸 Fjarðabyggð🇬🇱 Qeqqata     🇮🇸 Kópavogur🇬🇱 Tasiilaq    
Iceland has links with Iceland
🇮🇸 Hafnarfjörður🇮🇸 Akureyri     🇮🇸 Hafnarfjordur🇮🇸 Akureyri     🇮🇸 Akureyri🇮🇸 Akureyri🇮🇸 Hafnarfjörður    
Iceland has links with Lithuania
🇮🇸 Reykjavík🇱🇹 Vilnius    
Iceland has links with North Macedonia
🇮🇸 Reykjavík🇲🇰 Strumica    
Iceland has links with Mexico
🇮🇸 Reykjavík🇲🇽 Mexico City    
Iceland has links with Netherlands
🇮🇸 Reykjavík🇳🇱 Zevenaar    
Iceland has links with Norway
🇮🇸 Akureyri🇳🇴 Ålesund     🇮🇸 Árborg🇳🇴 Arendal     🇮🇸 Garðabær🇳🇴 Asker     🇮🇸 Seyðisfjörður🇳🇴 Askim     🇮🇸 Akranes🇳🇴 Bamble     🇮🇸 Hafnarfjörður🇳🇴 Bærum     🇮🇸 Hafnarfjordur🇳🇴 Bærum     🇮🇸 Stykkishólmur🇳🇴 Drammen     🇮🇸 Egilsstaðir🇳🇴 Eidsvoll     🇮🇸 Húsavík🇳🇴 Fredrikstad     🇮🇸 Norðurþing🇳🇴 Fredrikstad     🇮🇸 Garðabær🇳🇴 Gjøvik     🇮🇸 Dalvíkurbyggð🇳🇴 Hamar     🇮🇸 Dalvík🇳🇴 Hamar     🇮🇸 Siglufjörður🇳🇴 Holmestrand     🇮🇸 Ólafsfjörður🇳🇴 Horten     🇮🇸 Skagafjörður🇳🇴 Kongsberg     🇮🇸 Sauðárkrókur🇳🇴 Kongsberg     🇮🇸 Reykjanesbær🇳🇴 Kristiansand     🇮🇸 Blönduós🇳🇴 Moss     🇮🇸 Seltjarnarnes🇳🇴 Nesodden     🇮🇸 Reykjavík🇳🇴 Oslo     🇮🇸 Skagaströnd🇳🇴 Ringerike     🇮🇸 Hveragerði🇳🇴 Sigdal     🇮🇸 Mosfellsbær🇳🇴 Skien     🇮🇸 Fjarðabyggð🇳🇴 Stavanger     🇮🇸 Kópavogur🇳🇴 Trondheim     🇮🇸 Ísafjörður🇳🇴 Tønsberg     🇮🇸 Ísafjarðarbær🇳🇴 Tønsberg    
Iceland has links with Perú
🇮🇸 Hafnarfjörður🇵🇪 Juanjuí     🇮🇸 Hafnarfjordur🇵🇪 Juanjuí    
Iceland has links with Poland
🇮🇸 Grindavík🇵🇱 Uniejów     🇮🇸 Reykjavík🇵🇱 Wrocław    
Iceland has links with Portugal
🇮🇸 Grindavík🇵🇹 Ílhavo    
Iceland has links with Russia
🇮🇸 Reykjavík🇷🇺 Moscow     🇮🇸 Akureyri🇷🇺 Murmansk     🇮🇸 Reykjavík🇷🇺 Saint Petersburg    
Iceland has links with Sweden
🇮🇸 Fjarðabyggð🇸🇪 Eskilstuna     🇮🇸 Garðabær🇸🇪 Eslöv     🇮🇸 Garðabær🇸🇪 Gävle     🇮🇸 Seltjarnarnes🇸🇪 Höganäs     🇮🇸 Seyðisfjörður🇸🇪 Huddinge     🇮🇸 Árborg🇸🇪 Kalmar     🇮🇸 Húsavík🇸🇪 Karlskoga     🇮🇸 Norðurþing🇸🇪 Karlskoga     🇮🇸 Blönduós🇸🇪 Karlstad     🇮🇸 Reykjavík🇸🇪 Kista     🇮🇸 Skagafjörður🇸🇪 Kristianstad     🇮🇸 Sauðárkrókur🇸🇪 Kristianstad     🇮🇸 Ísafjarðarbær🇸🇪 Linköping     🇮🇸 Dalvíkurbyggð🇸🇪 Lund     🇮🇸 Kópavogur🇸🇪 Norrköping     🇮🇸 Stykkishólmur🇸🇪 Örebro     🇮🇸 Hveragerði🇸🇪 Örnsköldsvik     🇮🇸 Grindavík🇸🇪 Piteå     🇮🇸 Múlaþing🇸🇪 Skara     🇮🇸 Reykjavík🇸🇪 Stockholm     🇮🇸 Reykjanesbær🇸🇪 Trollhättan     🇮🇸 Mosfellsbær🇸🇪 Uddevalla     🇮🇸 Hafnarfjörður🇸🇪 Uppsala     🇮🇸 Hafnarfjordur🇸🇪 Uppsala     🇮🇸 Akureyri🇸🇪 Västerås     🇮🇸 Akranes🇸🇪 Västervik     🇮🇸 Skagaströnd🇸🇪 Växjö    
Iceland has links with USA
🇮🇸 Akureyri🇺🇸 Denver     🇮🇸 Húsavík🇺🇸 Eastport     🇮🇸 Norðurþing🇺🇸 Eastport     🇮🇸 Reykjanesbær🇺🇸 Orlando     🇮🇸 Reykjavík🇺🇸 Seattle    
Iceland has links with Venezuela
🇮🇸 Reykjavík🇻🇪 Caracas