Industry Sectors You Can Try Opening a New Company In Turkey

 

As a foreign entrepreneur looking forward to company formations in Turkey, there are several sectors that offer significant growth potential. Defining a sectors for opening a new company in Turkey is quite crucial.Here are some of the business sectors where you can excel in Turkey:

Manufacturing

Turkey’s manufacturing industry is one of the largest in Europe, and it has a highly skilled workforce and low labour costs.

The country’s strategic location also makes it a natural transit point for goods, which is an advantage for businesses looking to serve multiple markets. Manufacturing sectors that have shown growth potential in Turkey include automotive, textiles, and machinery.

Tourism

Turkey is a popular tourist destination, attracting millions of visitors every year. The country’s rich cultural heritage, stunning beaches, and natural beauty make the tourism industry an ideal sector for company formation in Turkey.

There are opportunities in areas such as hotel and resort development, travel agencies, and tour operators. In recent years, the Turkish government has implemented several incentives to promote tourism, including tax exemptions and reduced interest rates on loans for businesses in the sector.

Agriculture

Turkey has a favourable climate and fertile land, making it an ideal location for agricultural businesses. The country is one of the world’s largest producers of fruits and vegetables.

Your company can excel in areas such as food processing, packaging, and exporting. The Turkish government has also implemented several initiatives to promote agriculture, including subsidised loans, tax exemptions, and technical assistance.

Energy

Turkey is heavily reliant on imported energy, creating opportunities for businesses in the energy sector. The government has employed several initiatives to promote renewable energy, including tax incentives and feed-in tariffs for businesses that produce renewable energy.

If not, you can try your luck in areas such as oil and gas exploration and production and energy efficiency.

Healthcare

Turkey has a rapidly growing healthcare sector, driven by an ageing population and rising demand for healthcare services. There are opportunities in areas such as medical equipment and supplies, pharmaceuticals, and healthcare services.

The Turkish government has implemented several initiatives to promote healthcare, including tax incentives for businesses that invest in the sector. Therefore, healthcare is one of the sectors for opening a new company in Turkey However, the paperwork can be a bit tricky in this sector. If you need any help with company formation documents, you can always rely on reputable consultancies like Foreign Operations Turkey.

Real Estate

Turkey’s growing population and urbanisation present opportunities for businesses in the real estate sector. Areas such as commercial and residential real estate development, property management, and real estate investment are quite prominent sectors you can try.

Several initiatives to promote the real estate sector, including tax exemptions and reduced interest rates on loans for businesses in the sector, have been taken by the government.

In conclusion, Turkey offers several sectors where foreign entrepreneurs can excel. By conducting thorough market research and developing a robust business plan, foreign entrepreneurs can successfully enter these sectors and tap into Turkey’s growing economy. You can also seek help from company formation services near me for an easier transition.