It’s clear to see why more and more companies are eager to expand their business into the newly booming economy of Turkey. Not only is the country identified as one of the world’s up-and-coming economies, but there’s plenty of industries in this unique location where East meets West.
Here’s a quick guide to how and why to target the Turkish niche with your business…
Unwrapping the Turkish Market
Turkey has a very young population, with approximately half its people under the age of 28. For this and many other reasons, the company has earned a reputation as an emerging market for trade and commerce with countries around the world. This youthful demographic present almost infinite possibilities across the many industries for which Turkey has already gained an enviable reputation, particularly areas such as agriculture and consumer electronics. However new opportunities are also presenting themselves in unprecedented markets including construction and shipbuilding.
Major business opportunities are identified as areas such as manufacturing, where Britain has already begun to benefit from the export of goods to Turkey for vehicles and metals used in local infrastructure. Likewise, the telecommunications industry is worth around £13b annually and is growing rapidly at approximately 20% per year, giving mobile and landline operators plenty of great reasons to expand into the nation.
Agriculture has been one of Turkey’s most dominant industry areas for many years, as the country is largely self-sustaining. However, this presents lots of opportunities for manufacturing of goods associated with the agricultural process, as well as trading in food produced by Turkey to a global market.
Shipbuilding is one of the most significant areas where businesses could see significant benefit, as Turkey’s unique geography, situated between both Europe and Asia, makes it an ideal, centralized location for companies working in this field.
Developing a Turkish Toolkit
As with any country of culture, great communication is paramount to expanding into new markets, targeting key consumers and closing the deal. Many companies lack the language know-how to effectively communicate with business people and potential service users in the country, but thankfully help is at hand. The professional Turkish translation services from Future-Trans can help you take your business global by connecting with the lucrative and exciting Turkish market. With top in-house talent, there’s never been a better time to broaden your horizons, safe in the knowledge your company is supported every step of the journey.