Business Plan for Companies in Turkey

Despite all the economic crises and the unstable situation in the world, the interest of investors in this jurisdiction remains quite high. Against the background of sanctions and the growing confrontation between the West and the Russian Federation, Turkey chose a neutral position as an outside observer and is seeking to maintain friendly relations with the government of the Russian Federation and its citizens, which looks good in terms of the business climate.

In 2022, Turkey is one of the few countries where you can migrate with a view to a residence permit, permanent residence, and company incorporation. In the latter case, we recommend launching the incorporation process along with the project organization and the business plan, taking into account the market, economic indicators, and the volatility of demand/supply.

The business plan will help you to properly plan the budget, develop a strategy for doing business and get the profit that was originally planned.

Business Plan in Turkey – Advantages of Company Registration for Foreigners

What are the advantages of company registration for foreign investors who have chosen Turkey as their place of business? There is an endless number of answers to this question, but there are several points that account for the attractiveness of the Republic of Turkey to entrepreneurs from foreign countries:

• The country’s transcontinental location between Europe and Asia, which opens up a wide range of opportunities for international relations
• An advantageous business environment in this southern state:
  • stable economy
  • low tax rates
  • a large sector of special technical/economic zones where business benefits and favorable loan conditions are provided
  • the same requirements for foreign and local entrepreneurs who want to register a company in Turkey
• The government’s interest in foreign investment is reflected in a number of legislative acts:
  • a foreign person can open a business or a branch of a foreign company’s representative office in the Republic of Turkey
  • citizenship by investments can be obtained on the basis of a simplified procedure
  • investments in real estate from $400,000 also give the right to Turkish passports and social benefits

Practice shows that the majority of aspiring foreign entrepreneurs in Turkey make a number of unacceptable legal and marketing mistakes at the very start of their way. If you want to minimize the risks, it is better to organize your activity on paper by drawing up the right business plan for the company in Turkey, studying the market, and preparing a strategy for your business promotion. 

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What Business to Open in Turkey in 2022 to Get More Profit

If you want your Turkish business to succeed, you need to correctly determine the area of activities and make sure to form a business plan. In 2022, not only tourism and real estate but also foreign economic trade, technology and IT, remote entrepreneurship format (freelance), and agriculture are enjoying real popularity. 

The most profit is generated by the international market where export priorities are distributed as follows:

• vehicles, cars and heavy equipment
• industrial groups of goods
• food products

The economic spheres of activity have their ranking, too:

• industry (heavy and light)
• transport, communication, and logistics services
• all real estate transactions (rent, sale, construction)
• wholesale and retail trade
• agriculture

At the same time, not only large-scale activities but also small and medium businesses, including home-based ones, are thriving in Turkey. We would like to remind you that the country allows business registration in the home office, but there are also areas that cannot be registered in this way, including cafes, service stations, or sports clubs.

How Much does it Cost to Start a Business in Turkey in 2022?

The issue that worries foreign entrepreneurs the most is how much money they have to invest in business in Turkey to make a profit. But figures vary from case to case, and what is really important is to correctly draw up a business plan for the future company at the stage of its registration.

If you look at the data and statistics, you can boost Turkish business with a small amount of start-up capital:

• you can start a small business (cafes, mobile refreshment stands, and snack bars are popular in this segment) with the amount of 50 thousand dollars and later transform it into a snack bar chain or restaurant business
• selling nuts and sweets (including by using a franchise model) is a popular niche that will cost the store owner about $20,000
• opening a fitness club may require investing a significantly large amount of money since you will have to take special courses, get a professional certificate on a paid basis, rent a room and equip it according to the chosen program
• business in Turkey without starting capital includes the services of a tutor, a guide, a babysitter, a nurse, making homemade pastries, and so on.

On average, the costs of conducting and forming a business in the Turkish territory are quite affordable, which is a tangible advantage in terms of choosing a jurisdiction for business.

Business Plan in Turkey – Definition and Purpose

Now that we know the details of setting up business in Turkey, we can focus on explaining the reason why new and existing companies need a business plan. Why, when and how to make a business plan? And, last but not least, who needs it? These are the questions that can be answered by the experts of our portal, or you can find an explanation in this article.

You need a business plan for a Turkish company to solve current problems and identify ways of developing entrepreneurial activities in the future. The document contains all information on the budget, estimated profit and operation of the enterprise, taking into account the market and marketing research.

Many aspiring investors do not fully understand why such a plan is a must. However, there are business situations in Turkey (as in any developed country) where a business plan is needed to demonstrate the company’s structure and its development strategy to partners or financial institutions. You can surely draw up the document on your own (which does not always give the desired result), but addressing professionals means that you will get the business plan of the highest quality.

Why you Need a Business Plan for a Company in Turkey

The reasons why many foreign entrepreneurs decide to make up a business plan to support the organization of entrepreneurial activities in Turkey:

• Company financing – if businessmen in Turkey need additional investments, they can count on the help of credit institutions or investors. In both cases, you can confirm the seriousness and prospects of your project by submitting a business plan. This also applies to subsidies and state programs that support small/medium-sized businesses in the country.
• Guidelines for the company development. In this case, the business plan will serve as a visual guide to the strategy of doing business in Turkey and choosing the right way of its development in the local and international markets. Development of the financial side, search for partners and customers, as well as the study of goods/services and their demand in certain industries will be documented. All this will allow you to properly plan your activities and reduce possible losses to a minimum.
• Establishing a partnership. A good business plan can help in this process by facilitating project demonstration to partners.
• Schedule of actions for the future. The business plan for the Turkish company is a methodology for business development, which helps the management to make the right decisions and create roadmaps for further business growth.
• Problems and their identification. The business plan is in fact a designed program of company modernization, and it will allow to quickly identify errors and find ways of eliminating them if the established concept is violated.

Also, a good business plan drawn up by competent professionals is a long-term guide to achievements and a reminder for the company founder in the future.

Business Plan for Company Registration in Turkey

Contact the specialists of our international portal and get a well-developed business plan at a rate of 4500 USD. The amount is dynamic as it depends on the task, the area of the company’s activity in Turkey, as well as additional services you may need.

You can get a detailed consultation with experienced specialists and order a business plan in Turkey on a remote basis by contacting us at info@offshore-pro.info