With an already expanding export market based in the manufacturing industries, and strategic access to both Europe and Asia, doing business in Turkey is rapidly being recognised as a lucrative venture.
As a foreigner doing business deals in Turkey it is important to know that business is built over time and based on trust and established relationships; patience and a skill for personal interaction are the keys to success here. When first meeting prospective business partners, it is wise to engage in friendly banter, enquiring about children and family, prior to discussing business. Turks enjoy food and conversation, and when doing deals in Turkey you will likely relax and engage in some Turkish hospitality in good restaurants. The concept of sharing a bill is odd and the protocol of Turkish hospitality dictates that the host always pays for the meal. You are wise to reciprocate by inviting your host out again.
Although the corporate culture is changing and growing, many businesses in Turkey are still family owned and run. Turks will look at doing business with those they like, trust, feel comfortable with and with those that can provide a long term relationship. In addition to this, Turks are astute business people. Ensure your proposal clearly demonstrates mutual benefit and profitability within any agreement or partnership.
When negotiating a deal in Turkey, it is often not necessary to focus on financial benefits. Incentives such as power, influence, honor and respect are highly valued in Turkish culture.
Many expats enjoy working in Turkey not only due to its hospitality and warm climate, but also for the many business opportunities. While unemployment remains high at around 10%, there is a need in Turkey for trained and educated workers in many sectors of industry, such as tourism, management, engineering and healthcare.
The Tourism industry is one of Turkey’s largest employers, offering exciting opportunities from a business investment, management and employee level in unique regions such as Cappadocia or Bodrum; beautiful areas rich in history and culture, which also boast modern-day experiences such as yachting, ballooning and wine tasting.