Turkey's Small and Medium Sized Industry Development Organization ("Organization") has narrowed the scope of sectors in which it offers SMEs financial support. Under the changes, all beverage services, as well as production, distribution and post-production of television programs have become specifically excluded from eligibility for financial support.
The Council of Ministers' Decision number 2009/15431 and dated 5 August 2009 on Determination of Sectoral and Geographical Priorities regarding SMEs Eligible to Receive Financial Support outlines the sectors and geographic areas which have priority in terms of the Organization's support and services.
The Council of Ministers' Decision regarding Amendments to Determination of Sectoral and Geographical Priorities regarding SMEs Eligible to Receive Financial Support ("Amendment Decision") was published in Official Gazette number 29636 on 26 February 2016, entering into effect on the same date.
Changes under the Amendment Decision include:
- Accommodation and food services are eligible for financial support, with certain exceptions. Bars, taverns, cocktail lounges, discotheques, pubs and coffee rooms were already excluded. However, the Amendment Decision expands the exclusion to cover any beverage service activities.
- Production, distribution and post-production of motion pictures and video programs were already excluded. The Amendment Decision expands the exclusion to also cover production, distribution and post-production of television programs.
Please see this link for full text of the Amendment Decision (only available in Turkish).
Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven.
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