Microsoft announced three new Office 365 plans for small and Midsized Businesses. In typical Redmond naming fashion they are called Office 365 Business, Office 365 Business Essentials, and Office 365 Business Premium.

The new Small and Midsized Business (SMB) plans break down as follows:

Business: The full Office applications—Microsoft Outlook, Word, Excel, PowerPoint, OneNote, Publisher and OneDrive for Business cloud storage, which makes it easy to access, edit and share your documents across your Windows PC, Mac, iPad, Windows tablet and smartphone.

Business Essentials: The core cloud services for running your business—business class email and calendaring, Office Online, online meetings, IM, video conferencing, cloud storage and file sharing and much more.

Business Premium: Get everything from both the Office 365 Business and Business Essentials plans.

Remember that Microsoft defines SMBs as companies with up to approximately 250 employees. If you work for an SMB, you now have even more ways to pay for Office, hopefully at a better rate. Then again, buying a new version every few years can often be more economical.