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.