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Doing a Business in Turkey: Pros and Cons

It can be a very excellent idea for you when you decide to expand your business in Turkey. This remarkable country will be the larger and strategic market for your company as it is located on the unique territory (Asia, European, and the Middle East). So then, you can have the bigger chances to give the best services to so many more people for sure. Nevertheless, it is so much important for you to consider about the pros and cons that you have to face when you build your business in the country. Fortunately, you can find out those pros and cons when you continue reading below.

The pros
First of all, there are actually so various great things that you can get once you have started your business in Turkey. One of them is that this country can offer you the remarkable opportunities to develop the digital business as well as possible. It is because it can provide you the fast internet penetration as well as the active internet citizens such as Most of this community really likes to access their social media and so numerous startup applications. So then, it will be an awesome idea for you to begin your startup business there. Yet, you have to make sure that the startup that you create can meet the requirements of the people there nicely. By doing so, you will be able to run and improve your business fabulously even if there is a slow economic growth happens in the world. In addition, the industrial sector can give you the promising results as Turkey has been one of the notable exporters of vehicle and machinery parts to the European and Middle East.

The cons
Furthermore, the cons that will definitely challenge your business in Turkey are the economy and political outlook of the country. Both of these things can really make the country so unstable and vulnerable. This kind of condition must be so risky for so many investors to invest their capital in the country. Besides, there are also the security issues that you have to really consider before you invest in Turkey. The dangerous acts of the regional extremists of Islam will always threaten everybody in the country. Thus, all of the local partners, the international entrepreneurs, and the government have to understand their potential sectors in order to prevent the awful crisis that might happen to the country in the future.

Doing Business in Turkey: The Challenges

It is a kind of a very great idea for you to invest or do your business in Turkey. It is all because this particular country has been one of the most promising countries that have so many good sectors to invest in, which can be ranging from the textile sector to the construction sector. Each of them will give you the chance to get the optimal benefits that you will like so much. However, there are some challenges that you have to face when you start your business in the country. Well, in case you are so willing to figure them out, it will be so much recommended for you to check them out below.

– The construction permits
One thing that you have to handle carefully is the construction permits which are a little bit hard to get. It can be seen as the International Finance Corporation (IFC) and the World Bank have ranked Turkey on the 142nd position for dealing with the construction documents. There are several requirements and procedures that you have to meet in order to get the permits. All of them will be processed in quite long time of 180 days, which is quite longer than the OECD average time (about 143 days only). So, you have to make sure that you are patient enough to take care of the permits. Luckily, the government of Turkey has taken some steps in order to make the process simpler and faster at once since few years ago. Thus, the process of the construction permits can be so much more efficient than before.

Doing Business in Turkey The Challenges– The culture
Then, culture can be the other challenge that you have to meet when beginning your business in the country. It is because there is a significant gap between the west and the east side of the country. In the other words, you can find so many business and investment opportunities, more skilled staff, excellent infrastructure in the west side of Turkey, but you will not when you move to the east side. Aside of that, there is no particular standard on making the financial reports. So then, it will make the different entrepreneurs have the different ways in order to run their business, which is not good for the nature of business of the country. In addition, it is the main reason why it is so much necessary for you to get the trusted organization to help your out of the challenges before you start your business in Turkey.

The Business Culture of Turkey

Turkey has been known so well as one of the best business destinations in the world. It is because this specific country becomes one of the most strategic places to invest. Aside of that, the industry of the country is something else that you cannot forget at all. It can be seen from the great exports of the vehicle and machinery parts, knitted goods, and so on to the European and Middle East countries. So then, it is actually no wonder if Turkey can attract the attention of so many judi online investors from all around the world.

– Do the business based on trust
One thing that you will find when you work with a Turkish partner or company is that the fact that they do their business based on trust. In the other words, they will commonly work with some particular partners that they have already known well. Perhaps, that is the main reason why it is a little bit difficult for the foreigners to make a deal with the Turkish entrepreneurs. However, you can still get the chance to start your cooperation with your Turkish partner as long as you show your integrity and dedication persistently. Not only that, you have to make some appointments to meet and negotiate with them often, so that slow but sure they will find out your best quality. Additionally, in order to make it easier for you, you can add some entertainments, food, and small talks (football) mainly if you want to create the warmer communication with your Turkish partners.

The Business Culture of Turkey– Hard working and professional
Moreover, the other Turkish culture that you will find when you start your business there is the hard working and professional attitudes of the people. They will always give their best efforts every time they do their jobs even in the very long hours. So then, it can make you feel that working in the country is quite hard for the foreigners. Furthermore, the government of the country actually will not allow the foreigners to do the jobs that the local people can do. Nevertheless, this country will still hire the foreigners as teachers and the representations of the big international press or company. In addition, all of the Turkish people are so kind and polite to everyone who comes to their country, whether it is for working or vacation. Thus, it is clear that you will love living in this country.