To make a balanced cost-benefit analysis, a realistic profit forecast and, ultimately, to assess the overall feasibility of his business plan, any entrepreneur who wants to do business on a new, foreign market needs specific knowledge of the locally prevailing conditions on the selling and buying markets, legislation, competition, demographic, economic and social factors, transport facilities and labour potential.
What exactly you need to know depends on your business plan. An entrepreneur who wants to start a manufacturing enterprise in Turkey will need different information than someone who wants to sell a product of foreign origin in Turkey. Therefore, our work needs to- and will always – be tailored and fine-tuned to suit your individual requirements.
Why is it difficult for foreign entrepreneurs to get the required information?
The problem for foreign entrepreneurs is that the information they need is not easily accessible, neither through the internet nor via the appropriate institutions. There is a central institute for statistics in Turkey, but the information it provides is much too general to be used in a business plan, which requires much more specific data. There are public bodies that can provide more detailed information, but usually that information is only available in Turkish. The information that the Turkish Chamber of Commerce can provide is often too general as well and, as a rule, only available in Turkish. There are several ways in which you can get a general idea of where the big opportunities lie in Turkey. But for a definite ‘Go’ or ‘No Go’ you need:
- specific information
- aimed at your sector and the business you have in mind
- to the point and made-to-measure
- the right and relevant contacts