Economy, Domestic Economy

SMEs Comprise 96% of All Iranian Businesses

SMEs Comprise 96% of All Iranian BusinessesSMEs Comprise 96% of All Iranian Businesses

Ninety-six percent of the 88,000 licensed Iranian businesses are considered small- and medium-sized, a deputy minister of industries, mining and trade said.

“There are currently over 80,400 small and 4,300 medium-sized businesses active in Iran, which employ 42% of all employees in the industrial sector,” Ali Yazdani was also quoted as saying by ISNA.

By definition, enterprises run by 100 workers or less, and 50 workers or less are considered medium- and small-sized businesses respectively, according to Iran’s Small Industries and Industrial Parks Organization.

Yazdani, who is also the ISIPO head, added that Industries, Mining and Trade Minister Mohammad Reza Nematzadeh is considering a waiver of 90% of fines worth 3,600 billion rials ($102.85 million) levied on domestic industrial units in line with a government plan to revive the industrial sector.