WHERE TO GO FOR SUPPORT
Micro-enterprises and small & medium-sized enterprises (SMEs) play a crucial role in sustainable economic development, providing for job creation, innovation, research and development, and growth. The development of SMEs increases national competitiveness, productivity, the uptake of technologies and per capita income.
Well aware of the importance of SMEs, with 99% of all European businesses being SMEs, the European Commission has implemented enterprise support programmes in the northern part of Cyprus since 2006.
In addition to the support provided by the EU, there are a number of business support organisations in the northern part of Cyprus, providing technical assistance, training, coaching and access to finance support for SMEs. Particularly, the local body responsible for finance provides for incentives to the private sector, the SME development Centre (KOBIGEM) provides support on access to finance, grant schemes and credit schemes; the Chambers of Industry, Commerce and Shopkeepers and Artisans provide technical assistance, training and coaching on business development, international trade, documentation and various other related issues; and the Turkish Cyprus Investment Development Agency (YAGA) provides support on investment opportunities.
- Good practice examples of sustainable economic development & ICT for adaptation in the northern part of Cyprus – SECOND Project
- Incentives to the Private Sector – World Bank on behalf of the European Commission