Nowadays, in many articles in economy magazines and sections, Turkey is being defined as ‘a rising star in the region’. Its long lasting political stability, political changes and improvements in the EMEA region, and a prospering Turkish economy despite the global recession, created a new environment in which Turkish companies and products find more opportunities around the world.
99.8 % of the companies in Turkey are SMEs, supplying 81% of the employment and creating 59% of the added value.
Due to very aggressive export target for the year 2023 (500 billion USD per year), Turkey and its governance developed many new priorities, subsidies and common supports for the new SMEs especially in the new developing cities. For many different sizes and sectors, through six stages of subsidies, Turkey provides tax exemptions, social security support, branding and innovation incentives.
As the government in charge takes serious steps to solve ethnic problems in south-eastern Anatolia, huge agricultural capacity and integrated economical possibilities with Iraq and Syria will be unleashed, which will lead Turkey to enter further lucrative businesses with other Arab countries in the future. On the other hand, the European Community membership procedures are also moving forward albeit slowly, but may bear fruit in the near future.
Being close to necessary resources and the main consumer markets, in Central Europe and Middle East and their surrounding countries, every business has an opportunity to grow faster than in any other country in the world. Establishing an SME in Turkey is now very attractive for investors regarding initial costs and simplified formalities, after many enhancements recently made by legislative actions.
Hence, Turkey has a unique strategic and political position. Considering the Arab Spring and EC membership, Turkey has every positive key factor to cultivate successful businesses. These factors are shaping a modern country with qualified young work power, a sophisticated communications backbone, and a very effective banking system. Continuing and improving integrations with both western and eastern cultures, protective measures and safety regulations are also aligned with all EC requirements which provide a stable and secure working atmosphere. Increasing numbers of foreign investors shows that it’s the right time to start a business in this country.
In the light of all these arguments, many new companies are being established daily, while many other foreign investors are searching for M&A options and available investment projects.
However, as in every modern economy, Turkish working environment and legal regulations apply many labour, environmental, social and financial procedures which all companies have to comply with.
Destek Global, a 30 year-old consulting company headquartered in Istanbul, with a country wide presence via nine liaison offices and 200+ employees, has very close and reliable support capabilities all over the country and the region.
Destek Global’s solid experience in all aspects of the requirements to do business in Turkey provides reliable support to its customers, and a wide portfolio of services starting from the feasibility phase to executive search and selection processes. We have a network of experienced consultants providing fast and useful services in every region and every sector, not only in Turkey but also in other countries in the region.