Turkey is an excellent choice for several reasons. Firstly, the country has been making great strides in recent years and is now one of the world’s fastest-growing economies. This means that there are plenty of opportunities for entrepreneurs here, whether they’re interested in starting a business from scratch or expanding their existing company into new markets.
In addition to economic growth, Turkey offers some very attractive incentives for doing business here. It includes preferential access to government procurement projects and favorable tax rates on imports and exports. Besides that, real estate in Turkey has also become a popular investment choice in recent years, so there are plenty of opportunities to be found in all sorts of industries.
So, if you’re looking for a new and exciting place to do business, Turkey should be at the top of your list. Also, there are a couple of benefits of establishing a business in Turkey.
Benefits of Establishing Business in Turkey
Here are a few of the benefits of establishing a business in Turkey:
1- Low Operating Costs
One of the main advantages of doing business in Turkey is that costs are relatively low compared to other developed countries. It includes labor and overhead expenses, so it’s a great option for entrepreneurs looking to keep their operating costs down.
This is especially true for businesses looking to set up business in Istanbul, one of the most expensive cities in Europe. By contrast, other major Turkish cities like Ankara and Izmir offer much more affordable options for office space and labor costs. Also, you can buy houses for sale in Turkey if you are planning to stay.
2- Local Manufacturers
In recent years, Turkey has become a manufacturing powerhouse and is now home to some of the world’s leading companies in various industries. It makes it an excellent choice for businesses that are looking to source products locally, as there are plenty of reputable manufacturers to choose from.
What’s more, many Turkish companies have started to focus on exports, so they have the experience and expertise necessary to help your business grow in new markets.
So if you’re looking for a great place to do business, be sure to check out Turkey! The country has a lot to offer entrepreneurs of all stripes, from affordable operating costs to a booming economy. So don’t miss out – start exploring the possibilities today!
3- Attractive Tax Regime
The Turkish tax regime is also very attractive to foreign investors, with some of the lowest corporate taxes in Europe. This makes it a great place for companies looking to reduce their operating costs and pass those savings on to customers through lower prices or more generous product offers.
It’s important to note that all businesses in Turkey are subject to a Value-Added Tax (VAT) of 18%. Still, several exemptions and reductions may apply, so be sure to speak with an accountant before setting up a business.
4- Incentives Granted from the Turkish Government
The Turkish government offers several incentives to businesses. It includes preferential access to government procurement projects and favorable tax rates on imports and exports. This makes doing business here much more cost-effective, so be sure to take advantage of these benefits if you’re looking to expand your company into new markets.
5- Strong Consumer Spending
Turkey has one of the highest consumer spending rates globally, so there is a lot of potential for businesses looking to tap into this market. In fact, recent studies have shown that Turkish consumers are increasingly willing to spend money on luxury items and experiences, so there is plenty of room for growth in high-end markets.
So if you’re looking for a place to do business that offers plenty of growth potential, Turkey is worth considering. With its booming economy and favorable tax regime, the country offers entrepreneurs plenty of opportunities to succeed. So don’t wait – start exploring the possibilities today!
You can also check out the property for sale in Turkey, which is quite an affordable option if you want to stay for a while. In addition to its low operating costs, the country offers several incentives and benefits to businessmen.
Best Places to Start a Business in Turkey
Here are a few of the best places to start a business in Turkey:
- Istanbul
- Ankara
- Izmir
- Bursa
- Kocaeli
- Antalya
- Mersin.
Final thoughts
Turkey offers several benefits to businessmen and entrepreneurs, including low operating costs and an attractive tax regime. So if you’re planning on setting up a business in Europe or the Middle East, Turkey is worth exploring. Moreover, check for villas for sale in Turkey so you can enjoy your trip and business in Turkey.
