BTSO President Burkay: "This is an important step that the real sector has been waiting for a long time."

ECONOMY (BURSA) - Due to the increasing balance sheets of many businesses due to high inflation, the definition of SMEs was revised following intense demand from the business community. The Presidential Decree raised the annual net sales revenue or financial balance sheet upper limit from 500 million TL to 1 billion TL. Bursa Chamber of Commerce and Industry (BTSO) Chairman İbrahim Burkay described the amendment as a long-awaited step for the business community. Burkay stated, “The update to the SME definition responds to a need long voiced by our real sector. We find it extremely valuable that this regulation, which is among the top priorities of our committees and members, has entered into force with the signature of our President.”

Burkay emphasized that the new regulation will allow more businesses to qualify as SMEs, stating that this will facilitate access to support mechanisms specifically designed for SMEs, such as financing, digital transformation, export incentives, and capacity building. Burkay stated that BTSO views the change as a strategic decision that will contribute to all economic dynamics, from production and exports to employment and innovation. He added, "This regulation will also be a significant source of support and motivation for our companies operating in Bursa."

Mayor Burkay thanked President Recep Tayyip Erdoğan, the Ministry of Treasury and Finance, the Ministry of Industry and Technology, and the entire economy administration for their efforts in implementing the regulation, and expressed his hope that the new regulation would be beneficial to businesses and the city and national economy.