Global Crisis and Turkish SMEs: Crisis Management and Applied Financial Policies

Abstract

The recent global crisis has reduced the growth rate of the world economy. Especially small and medium-sized enterprises (SMEs) were seriously affected by the global economic recession in 2008-2009. This study has been conducted so as to reveal the financial policies applied upon facing the negative impacts of the global crisis. In this study, the impact of the global crisis on the economy of Turkey are presented in a general framework and later on, the perspectives related to the financial policies that the SME's operating in Eskoop Industrial Zone implemented in crisis management will be introduced. The research has been conducted on 156 SMEs. In data analysis, chi-square technique has been used. The survey questionnaire has been applied to senior executives and business owners. The research findings support the theoretical sections of the study.