Turkey has been steadily growing as an attractive destination for small business owners and entrepreneurs. With a strategic location at the crossroads of Europe and Asia, a favorable business climate, and a growing consumer market, Turkey offers a wealth of opportunities for those looking to start a small business. In this blog, we will explore the benefits of starting a small business in Turkey.
- Strategic Location
Turkey’s location is one of the key advantages of starting a small business in the country. The country is situated at the crossroads of Europe and Asia, which makes it a gateway to both continents. This strategic location provides easy access to markets in Europe, Asia, and the Middle East, making it an ideal location for businesses that want to reach a global audience.
- Favorable Business Climate
Turkey has a favorable business climate, with a liberal and open economy that encourages entrepreneurship and foreign investment. The country has implemented several reforms over the years to make it easier to do business, including simplifying the procedures for setting up a business, reducing bureaucracy, and streamlining the tax system. This has made it easier for small businesses to get started and grow.
- Growing Consumer Market
Turkey has a growing consumer market, with a population of over 84 million people. The country has a young and dynamic population that is increasingly urbanized and digitally connected, which makes it an attractive market for businesses that are looking to tap into the growing consumer demand. The Turkish economy has been growing steadily over the years, which has created a strong demand for goods and services.
- Low Cost of Living
The cost of living in Turkey is relatively low compared to other European countries, which makes it an attractive destination for entrepreneurs who want to start a business on a tight budget. The cost of office space, labor, and utilities are also lower compared to other countries in the region, which makes it easier for small businesses to operate and remain profitable.
- Access to Skilled Labor
Turkey has a large pool of skilled labor, with a young and educated population that is proficient in several languages, including English. The country has a strong tradition of vocational training, which has produced a workforce that is skilled in several areas, including engineering, IT, and manufacturing. This makes it easier for small businesses to find and hire the talent they need to grow their business.