As a developed country Turkey offers many opportunities to foreigners who are planning to invest in Turkey. The country attracts investors with its thriving economy, qualified labor force, low taxes, and young population. Doing business in Turkey and with Turkish people is not a hardship, but here are some useful facts and recommendations about Turkish business culture.
Trust is the Key Point
Generally, Turkish people are very friendly and sincere and Turkish business culture is built on this, and also, on trust. Turkish people, especially, business owners tended to build personal relationships with their work partners aside from their business relationships. If you wish to succeed in Turkish business culture, you need to gain the trust of your work partners and the people you employ. If you worked with a Turkish partner or company and constructed a strong relationship with them, then they will commonly work with you since they already know you. At first, perhaps it is a little bit difficult for the foreigners to make a deal with the Turkish entrepreneurs, but once they get to know you and see your dedication then they will warm to you. Our recommendation is just be honest with your Turkish partners, then everything will be okay.
Be Respectful to Cultural Values
Respect is another important aspect of Turkish business culture. Turkish people take great pride in their countries and values and would expect the same respect from the outsiders. Although Turkey is a very modern country, it has very deep bonds with its traditions and cultural elements. When it comes to sharing their history and culture with foreigners, Turkish people are very enthusiastic and more than willing to tell stories about the history of their cities, towns, or cultural sightings. Showing your appreciation of Turkish traditions and cultural values is a great way to gain the respect of your Turkish business partners.
Negotiating Takes Time, Be Patient
Most Turkish businesses are run by families. There is a hierarchical administration and decisions are made by an upper-level figure in the company. At first, you may associate with lower level managers, but as negotiations go further you may meet senior managers. So in Turkish business culture decisions are made slowly, especially if you are an outsider. It is important to impress your Turkish partners in order to reach a successful outcome. If you plan to pitch an offer to any of your Turkish business associates, remember to present your ideas vocally and visually. Try to make your presentations more visual with charts, graphics, and maps to appeal their interests. Also, being patient will help you since the outcome of your negotiations will take some time in the business life.
If you are planning to be a part of Turkish business culture, following our recommendations will make your process much easier. Also, you can check our guide for Companies to learn everything you need to know about investing in Turkey.