Entrepreneurs can do business in virtually any part of the world. But before transacting business in any country, you need to know its rules, regulations, and ethics.
Investing in Turkey is not different from other Eurasia countries. You may need a business plan and finances to start your business. But if you want to be a successful entrepreneur in Turkey, you need to know what governs its business ideas. Visit the investment Turkey site to know more.
Here are some things you need to know about business life in Turkey:
Businesses Have A Hierarchy
Most Turkish companies are run by families who have a hierarchy of conducting operations. In your first meetings with a company, you’ll meet younger family members. But as you hold more meetings, you may get to meet the head of the family.
Turkish workplaces are traditional. It would be advisable to respect their process and not pressurize or set deadlines for a business you’re partnering with. First, establish a good relationship, then you can work your way up. The decision-maker of Turkish companies are the supervisors, directors, business owners, or general managers.
Turks Value Business Relationships
Most Turks would prefer having very personal relationships with their business partners. That’s why if you’re planning to have any investment Turkey business, ensure you’re trustworthy, loyal, and respectful. Turkish entrepreneurs like to work with foreigners that they know more about.
If they establish a long relationship with you, your business relationship will also grow stronger. But if you’re too distant and impersonal, they’ll be skeptical about you.
Familiarize Yourself With Its Bargaining Culture
Bargaining is a crucial part of Turkish business life. It’s not strange to buy a product cheaper than it’s labeled when shopping in Turkey. However, this commonly happens in markets and bazaars. It may not be easy to bargain in malls or shops that have a single price policy.
Therefore, don’t be surprised if your Turkish partners request a bargain. Always be ready and willing to negotiate on prices of goods and services.
Turks Value Time
Like other countries in Europe, Turks value time-keeping. When you arrange your meetings, ensure you do them in advance to give your partners time to attend. Also, ensure that you arrive at meetings on time. Some meetings are held in offices, though most are held in restaurants over lunches and dinners.
It’s the host who pays for meetings held in restaurants. Paying for your meals or drinks is considered an insult. So if you attend a lunch or dinner meeting, let the host pay and then reciprocate the gesture when you call them for a similar meeting.
Turks Value Formal Dressing
Though Turkish businessmen prefer traditional attire, it’s usually formal. Some men may also wear business suits while women may wear simple dresses or business suits with smart tops. Turkish businessmen expect your attire to be formal and presentable even during hotter months.
The global business legislation has made it possible to do business in every part of the world. Despite that, it’s vital to know the rules that govern businesses in the country you want to invest in. Just as it’s vital to visit the immigration Turkey site to know the immigration rules, it’s crucial to understand their business life. These points highlight some things they value.