SESRIC identifies 5 priorities for supporting small, medium-sized businesses

The small and medium enterprise support system should be based on five key priority areas: ensuring greater access to financial resources, engaging SMEs in economic processes, digital modernization, promoting green business, and creating additional opportunities for women and the younger generation, as this sector is becoming the foundation for the sustainable and inclusive growth of modern cities, Zehra Zumrut Selcuk, director general of SESRIC (Statistical, Economic and Social Research and Training Center for Islamic Countries), said at the 13th session of the World Urban Forum (WUF13) in Baku, Report informs.

She emphasized that investments in the small and medium business segment are directly linked to achieving long-term socioeconomic well-being and enhancing the sustainability of the urban environment.

"Investing in SMEs is investing in the long-term prosperity of society. We should ensure that SMEs remain at the center of sustainable urban transformation. Each of these five areas is not just an economic goal, but a tangible tool for improving people's quality of life. Only by combining digitalization, green technologies, and equal opportunities for all will we be able to build cities that people want to live in," emphasized Selcuk.

The head of SESRIC believes that the transition to digital technologies enables SMEs to more quickly adapt to changing market conditions, gain access to international platforms, and enhance their competitive advantage. At the same time, promoting environmentally responsible entrepreneurship helps reduce environmental impacts and accelerates the transition to sustainable production and consumption patterns.

Special emphasis is needed on engaging women and youth in entrepreneurship, as expanding their economic participation strengthens social stability and promotes more inclusive urban development, she added.