Micro, small and medium businesses;

• It is the backbone of the European economy and about 25 million firms make up over 98% of all businesses, 67% of total employment and 58% of gross value added. Over 95% of enterprises in the OECD region are SMEs and make up almost 60% of private sector employment.
• 30.7 million small businesses operate in the United States. Businesses with fewer than 500 employees represent 99.7% of all US businesses. These small businesses are estimated to have a total of 59.9 million employees, accounting for 47.3% of all employees in the USA.
• There are an estimated 3.5 million active SMEs in Turkey, which represents 99.8% of all registered organizations in the country. SMEs contribute 62% of the country’s GDP, 55% of the country’s exports and 73.5% of the workforce.

• Around 150 million businesses are established worldwide each year. In other words, approximately 137,000 companies start business every day. Unfortunately, approximately 120,000 companies go bankrupt every day. In other words, while you are reading these lines, an average of 85 companies have already gone bankrupt. This figure means that 90% of the established firms crash and only 1 out of every 10 firms can survive.
• 20% of small businesses go under in the first year of their establishment, 30% in their second year and 50% in their fifth year. In the 10th year, the rate of those who go bankrupt reaches 70%.
• The reasons why companies fail are: 19% have businesses cannot compete in the market, 23% do not have the right team, 29% are out of capital, 42% do not need their services and products, 82% have cash flow problems.

The crisis caused by the Covid-19 outbreak in 2020 will undoubtedly accelerate these figures.