Domestic Economy

Share of Home-Based Businesses in Iran’s Economy

Share of Home-Based Businesses in Iran’s EconomyShare of Home-Based Businesses in Iran’s Economy

Iran has three million home-based producers, but the real number is definitely higher as many home-based businesses are operating unofficially, Minister of Cooperatives, Labor and Social Welfare Mohammad Shariatmadari said. 
“The share of home jobs in the total number of jobs is 4-6% and their share of gross domestic Product is 2-2.5%. Under coronavirus conditions, their share is bound to increase,” he was quoted as saying by IRNA.
More than 2,000 billion rials ($7.69 million) in loans were approved for home-based businesses in the year ending March 2020 and 20,000 people received these loans and 35,000 jobs were created. 
“In the current fiscal year (March 2020-21), another 2,000 billion rials in loans have been approved and from March 20 till Nov. 20, upwards of 5,000 people have taken out these loans and more than 6,700 jobs have been created,” he said.

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