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Doing business in Turkey

Doing business in Turkey. Perceptions Proposed Plan of action Route to Market What we learnt on route Successes and rewards Summary. Perceptions. Volatile Passionate Culture Economy Distance. Proposed Plan of action. What was required Needed to establish Perception VS Actual.

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Doing business in Turkey

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  1. Doing business in Turkey • Perceptions • Proposed Plan of action • Route to Market • What we learnt on route • Successes and rewards • Summary

  2. Perceptions • Volatile • Passionate • Culture • Economy • Distance

  3. Proposed Plan of action • What was required • Needed to establish Perception VS Actual. • Needed to make contact with British Consulate • Needed to make contact with BCCT • Needed to understand what was required to be successful • Needed to prepare business plan

  4. Route to market • Meet with both British Consulate & BCCT • Identify & establish targetted account(s) within your sector. • Evaluate market conditions. • Understand business practice • Timescales • Expectations • Culture • Prepare appointments.

  5. What we learnt on route • Local assistance available – Consulate & BCCT • There are differences dealing with government & private sectors. • Private = Relaxed, friendly & professional. • Government = Traditional, Political, Bureaucratic. • Tender process • Long • Lots of legal requirements – Turkish & English • Translation required for all documentation – Time & money. • Plan and take nothing for granted • Business to be won – With and without agents

  6. Successes and rewards Successes • Contract awarded for 2006 • US$ 2,700,000 • Further opportunities for a new government tender • US$ 4,600,000 in 2007 Rewards • Opportunity to meet and deal with both people & culture

  7. Summary • Use the facilities available. • Trust your contacts within facilities • Understand Market. • Understand Culture. • Turkish Nationals. • Contracts for Governments • Obtain legal advise. • Ensure Letters of credit for prompt payment. • Be Patient • Work the territory • Be prepared for multiple visits • Don’t lose hope ……

  8. Q & A’s Good Luck

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