Reasons to start a business in Turkey

Turkish economy is one of the most rapidly growing economies across the world, and Turkey is a great place to grow your business. It lures international businessmen with its expanding economy, strategically important position, opportunities, successful business community, and massive population of youth.

The benefits for businessmen who are seeking to found a business in the country are numerous. It is a thriving market since it is a trade hub for Europe, Asia and Middle East. Additionally, it grants never-seen-before opportunities to international investors with the government supporting them.

Low Costs

Starting a business in countries such as England or the US will make you spend millions of business while Turkey offers low expenses. Each year there are approximately one million university graduates who look for jobs rather than establishing their own businesses. That is why the cost of salaries and workforce is low. Additionally, you don’t have to pay a fortune for supplies that are actually high-quality. That means the cost of starting a business is not a worry in Turkey.

High Spendings

Young population fancy following trends, having favourite brands, and spending money. The right marketing methods and plan can earn you top dollar if you successfully consider the needs of the youth. If you follow the most recent trends and adapt them to your business, luring young consumers will be a piece of cake.

Local Producers

Being close to producers is a wise choice when starting your business. There are many local producers in Turkey who gladly support businessmen. Find an idea that you can run with a local producers and they will help you throughout the way. They also take small amount of orders instead of massive numbers, which is a great benefit for newly established businesses.

Government Incentives

Turkey wants to lure foreign investors and reduce investment costs. International businessmen who acquire Investment Incentive Certificate are given tax deduction, custom duty exemption, interest rate support and so much more. Stay tuned with the government to find out detailed information about the benefits and encouragements.

Turkish Citizenship

Maybe the greatest benefit of all, foreigners who invest in Turkey are granted citizenship. Making a capital investment that is worth a minimum of $500k, hire at least 50 people, buy real estate worth a minimum of $250k, or deposit at least $500k in Turkish banks for three years, or buying government bonds worth a minimum of $500k can obtain Turkish passport.