in all countries around the world, tradesmen and craftsmen in Turkey
are an important and dynamic component of the economy. While contributing
to economic growth through manufacturing targeting all parts of the
society, they play an important role in the economic and social development
as well as maintaining stability in the country by creating employment.
Tradesmen-craftsmen and SMEs in Turkey make up:
" 98.8% of all the enterprises,
" 37% of all the production,
" 46% of all the employment, and
" 8% of all the export activities in Turkey.
When faced with financing difficulties in the establishment or running
of a business and the financial support received from family and friends
is not sufficient, tradesmen-craftsmen apply to institutions providing
credit. However, there are usually problems in furnishing the guarantee
required by such institutions. This problem has brought the tradesmen
and craftsmen together to establish cooperatives. The first credit
cooperative in Turkey was established in 1951 in Ankara. In 1970 TESKOMB
was established as an umbrella organization bringing together all
the cooperatives established throughout Turkey.
Today there are 32 Regional Unions and 910 cooperatives with 1.100.000
members under TESKOMB.
Halk Bank has been given the duty of making available the resources
allocated by the State to support tradesmen and craftsmen. In the
existing system, the tradesmen and craftsmen can get credit with low
interest rates from Halk Bank with the guarantee they show from the
cooperatives that they belong to. In this system the cooperative only
provides guarantee to its members. The difference between the interest
rate of these types of credits and commercial credits is compensated
by the State.