Social problems avoided thanks to SMEs: Prime Minister

Selçuk Şenyüz ANKARA

AA Photo

The government plans to mobilize funds for small and medium-sized enterprises (SMEs), in order to help them establish robust branding strategies and conduct more detailed R&D activities, Prime Minister Ahmet Davutoğlu has said.

“SMEs are the backbone of the Turkish economy, as well as society. If income equality increases and there are no social problems, this is all thanks to SMEs,” Davutoğlu said on Jan. 29, speaking at the Third Award Ceremony for SMEs and Entrepreneurs.

A total of 100 million Turkish Liras in financial support to enable the SMEs to foster their brands and corporate structures has been set aside by the government, he announced. He said 150,000 liras would be provided to selected SMEs to support their branding activities, and 1.5 million liras to foster their R&D activities. In addition, existing financial support for SMEs to boost their R&D activities will be increased.


“SMEs know very well that the higher economic and political stability are, the stronger SMEs are,” Davutoğlu said, adding that Turkey has managed to “keep its political and economic stability for the last 12 years, despite serious global risks.”