While the definition of small and medium-sized enterprises (SMEs) was rearranged, the balance sheet limit was increased to ₺500 million.
The Small and Medium-Sized Enterprises Regulation entered into force after being published in the Official Gazette.
With the regulation, the criteria used in the determination of SMEs were updated.
The definition of SME was changed to “enterprises with less than 250 employees and whose annual net sales revenue or financial balance sheet does not exceed ₺500 million”.
SMEs were reclassified by taking into account their net sales revenues, financial balance sheet amounts and number of employees. The annual net sales revenue or financial balance sheet limit of “micro enterprises” with less than 10 employees per year has been increased from ₺5 million to ₺10 million. The limit for “small businesses” with less than 50 employees was increased from ₺50 million to ₺100 million. For “medium-sized enterprises” with less than 250 employees, the upper limit has increased from ₺250 million to ₺500 million.
The businesses that exceed any of the criteria taken into account when determining the SME qualification, with their data for the last two accounting periods, will lose their SME qualification. Businesses that fall below the criteria with their data for the last accounting period will be defined as SMEs. Business classes will be determined by the data of the last accounting period.
Source: AA / Prepared by Irem Yildiz