Azernews.Az

Türkiye has introduced a major update to its small and medium-sized enterprises (SME) classification, raising the upper limit for annual net sales revenue or financial balance sheet from 500 million Turkish Liras to 1 billion liras ($24.6 million) Azernews reports, citing Huriyyet.

The change was published in the Official Gazette.

Under the previous regulation, a business was classified as an SME if it had fewer than 250 employees and either its annual net sales revenue or financial balance sheet total did not exceed 500 million liras.

With the updated criteria, a greater number of companies will now be eligible to benefit from SME support programs.

The revised regulation is expected to directly impact a wide range of businesses, particularly those experiencing strong growth and improved financial performance.

This adjustment is expected to benefit firms in fast-growing sectors such as technology, manufacturing, and services.

According to the updated framework, a microenterprise is defined as a business with fewer than 10 employees and an annual net sales revenue or financial balance sheet not exceeding 10 million liras

A small enterprise is classified as one employing fewer than 50 people, with annual net sales revenue not exceeding 100 million liras.

An intermediate-sized enterprise is defined as a company with fewer than 250 employees and annual net sales revenue not exceeding 1 billion liras.