Small and Medium Businesses in Iraq, the Problem

Small and Medium Businesses - or what they call SMEs - are one of the most important basics that make up the modern world economies, and one of Iraq's necessities for improving and developing its local economy and to solve the unemployment problem.

 Unemployment in Iraq reached to %5 according to the Iraqi Central Organization for Statistics and Information Technology (COSIT), other international experts estimates that it reached %39 .

It is noteworthy to know that levels of small and medium enterprises in Iraq did not live up to the expectations and they are below the level of ambition and experiencing both operational problems and financial difficulties.

Most of these projects are self-funded with limited individual experiences, they collide with the banks hesitation of providing them with facilitated and long term loans because of their short credit records and lack of guarantees.
These projects also suffer from a lack of operational experience, which is combining all functions in a single administration, products dumping policies, lack of marketing information and competing imported goods.

The Iraqi government must concentrate on encouraging Small and Medium Businesses in Iraq, if it has the intention of speeding up the reconstruction process in Iraq.

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