How To Start A Business Turkey Table of Contents
Before starting a business in a Turkey, it is important to know the country’s business ethics and the processes involved in setting up a business in the country. S, in this post we explained everything you need to know before setting up your business in the country.
Things you need to know before setting up a business meeting with your Turkish business partner
It is advisable to get an intermediary when you are on a business trip in Turkey. A third party will make the process of meeting with your business partners easy for you in the country. It is also advisable to schedule your business meeting in advance, like two or three weeks before time, and call or send an email to your counterpart to confirm that.
It's important to know the right title, responsibility, and position of your business counterpart
Avoid booking appointments with your Turkish business partner during the Turkish holidays. Entrepreneurs who are looking for how to start a business Turkey should know this before setting business meetings in the country
Although most business people in the country speak the English language, it is important to ask your business counterpart about their language to know if there is a need for an interpreter.
Punctuality is key, make sure you arrive at your meeting premises on time each time a meeting is scheduled. If for any reason you can’t make it on time, inform your partners beforehand.
Your first meeting in the country will be more social, their aim at this first meeting is to know their business partner. So, don't insist on having business conservation with them at first. This is important how to start a business Turkey guide you have to note before setting up a business meeting with your Turkish business associates.
However, after the first meeting, the meeting culture changes to formal business discussion. All formal business protocols must be observed during a business discussion at this point.
When it comes to presentation, make sure your presentation is simple, clear, and concise. It is important to show them the benefits and profitability of your business proposal.
After your business meeting with the Turks, the next thing will be the negotiation. The negotiation phase will continue before reaching a deal and the process might be slow. So, don't be annoyed with your Turkish business partner at this point.
During a business meeting, it is advisable to provide your business document in Turkish and English.
When greeting, greet the elderly people first, and also maintain eye contact while speaking to the people.
Always note that the decision-making process in the country is slow. So, make sure your presentation is clear and easy to understand, to make things easy for them as this might help them in the decision-making process.
Now let’s see step by step guide on how to start a business Turkey
All businesses in Turkey need a potential tax number and also other official processes you need to go through in the country before setting up your business needs this potential tax number. So, you have to get it from the appropriate body in the country.
Now that you have your potential tax number, choose a product for your business. You need to choose a product or service that is needed in the country. Do your research to know the product and/or service that is needed in the country.
There are two main business structures for foreign investors in the country. Study the two and choose the best one for your business.
This stage is very important, once you have decided the business structure, go ahead and register your business in the county. The process is simple once you have your potential tax number.
Open a business bank account with your potential tax number, this bank account will be used for all business activities.
You can only set up a business in the country with the address of your firm and not your home. This also applies to virtual business. You'll also have to pay your office rent with your business bank account, not with your personal bank account.
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