Limits have changed in the definition of SME

The classification, qualifications and types of businesses of SMEs have been redefined. The regulation on Small and Medium-Sized Enterprises (SMEs) entered into force after being published in the Official Gazette. Accordingly, micro businesses with an annual number of employees of less than 10 and an annual net sales amount or financial balance sheet of not more than 5 million liras were defined as businesses whose number of employees remains the same but whose financial balance sheet does not exceed 10 million liras. Small businesses, defined as businesses with an annual number of employees of less than 50 and an annual net sales amount or financial balance sheet of not more than 25 million liras, were defined as businesses with an annual number of employees of less than 50 and an annual sales amount or financial balance sheet of not more than 100 million liras. Medium-sized enterprises, which are classified as enterprises with an annual employee base of less than 250 people and an annual net sales amount or financial balance sheet of not more than 250 million TL, are also classified as enterprises with an annual employee base of less than 250 people and an annual net sales amount or financial balance sheet of not more than 500 million TL.