Türkiye’s small businesses are its economic backbone, say World Bank and IFC

ANKARA – Micro, small, and medium-sized enterprises (MSMEs) form the strong foundation of Türkiye’s economy, according to senior officials from the World Bank and the International Finance Corporation (IFC). The directors for Türkiye at both institutions stated that these businesses must now focus on increasing their productivity. They recommended three main paths: adopting digital tools, creating skilled, formal jobs, and building greater resilience to disasters and economic shocks. The statement highlights the critical role of small firms in driving national growth. By modernizing operations, Türkiye’s MSMEs can better withstand crises and contribute to a more stable, competitive economy.