Small and medium-sized enterprises

A new World Bank project will help avert the closure and maintain employment in viable micro, small and medium enterprises (MSMEs) affected by the economic shocks of the earthquakes that hit southeastern Türkiye.

The $450 million project's objective is to support business continuity and sustainable growth of viable MSMEs in the 11 earthquake-hit provinces.

Some $450 million in financing will be provided to small and medium-sized enterprises (SMEs) and industrial firms under the Türkiye Green Industry Project, Industry and Technology Minister Fatih Kacır has said.

National Bank (NBG) intends to place emphasis on the financing and support of small and medium-sized enterprises, which make up the largest part of the Greek economy and proportionally have the lowest loans from the banking system, alongside the digitalization of its products and services.

The dynamic growth of Greek tourism, driven in recent years by luxury resorts and five-star city hotels, is now spreading to smaller hotel units as well.

Small and medium-sized businesses are increasingly interested in the Recovery Fund's loans, which would allow them to cut their financial costs in half at a time when interest rates are rising. 

It is currently estimated that 35, or one-third, of the 106 contracts signed for Recovery Fund loans are for small and medium-sized enterprises.

Türkiye is ramping up its efforts to transform the industrial sector in compliance with the EU's green deal by implementing a comprehensive and ambitious project.

The size of the Green Industry Project, aimed at facilitating Türkiye's transition to the EU Carbon Border Adjustment Mechanism and reducing carbon emissions in production, is $450 million.

Banks see 2023 as the year of small and medium-sized enterprises, as it is they that will benefit from the programs of the investment incentives law, the new National Strategic Reference Framework of the European Union (known in Greece as ESPA), and the Recovery and Resilience Fund, which has opened its doors to both small and medium-sized enterprises, offering low-interest loans for the part o

Greek industry has sent a distress signal to the prime minister through a letter, asking for a meeting with him and for his immediate intervention to deal with the effects of soaring energy costs.

The first initiatives for small and medium-sized enterprises is expected to be announced through the Competitiveness program of the National Strategic Reference Framework, known in Greece as ESPA, which will finance their digital transformation.

Two in three businesses in Türkiye allow their employees to work remotely, according to a survey announced by the Turkish Statistical Institute (TÜİK) yesterday.