Celebrating the Role of SMEs in Local Economies in Türkiye on MSME Day
Celebrating the Role of SMEs in Local Economies in Türkiye on MSME Day
June 27, 2024 | Nawar Maarri
At the heart of every thriving community lies the story of entrepreneurs—individuals who turn challenges into opportunities, create jobs, and build a better future for their families. These SMEs are not just businesses; they are the lifeblood of local economies and the backbone of community development.
Sustained and strategic support from Building Markets in Türkiye has equipped entrepreneurs with the essential tools and resources to overcome challenges and achieve sustainable growth. On this MSME day, we look at how the impact SMEs are having in local economies.
Economic Impact: Through Building Markets’ support, SMEs in Türkiye have created over nearly 11,000 jobs and secured over $50 million through tenders, exports, access to finance, mentorship, and training services. This economic surge has helped more than 21,500 families, spreading prosperity throughout the community and ensuring a stable source of income for communities.
Community Benefits: The ripple effect of empowering SMEs in Türkiye goes far beyond economic growth. By fostering entrepreneurial success, social cohesion and community resilience. Our initiatives have strengthened bonds between Syrian entrepreneurs and their host communities, promoting mutual understanding and collaboration. The result is a more inclusive and vibrant local economy where everyone can thrive.
Support in Times of Crisis: In 2023, when a devastating earthquake struck Türkiye and Syria, many SMEs faced the brink of collapse, but with our support many businesses were able to begin rebuilding and continue contributing to the economy. One such business was Se Media. Despite being displaced from her home and operating from a shelter, Walaa Aktaa, the founder of Se Media, demonstrated remarkable resilience. With support from Building Markets and a grant totaling $7,000, she was able to settle debts, restock supplies, and regain stability. Her determination and the critical aid received allowed her business not only to survive but to continue growing, supporting her family and inspiring other women entrepreneurs.
Empowering Women: Empowering marginalized groups, especially women, is crucial for inclusive development. When women are able to start and grow SMEs, they are more likely to increase their livelihoods and invest in the wellbeing of their families and communities. We are providing training programs, mentorship, financial assistance, and collaboration with local government bodies, and women who have accessed these resources have gone on to start and grow successful businesses, creating jobs and inspiring others in their communities.
Discover More: For a deeper look at the transformative power of our work, we invite you to explore our news and stories, where the journeys of SMEs come to life through stories of resilience, innovation, and impact.
Our work in Türkiye is made possible through a generous gift of the United States.
