7 Mistakes to Avoid when doing Business in Turkey
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+ 7 Mistakes to Avoid when doing business in Turkey UKTI ‘Doing Business in Turkey’ event in Croydon - 13 November 2013 Copyright © Levent Yıldızgören Levent Yildizgoren – Managing Director - TTC wetranslate Ltd
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UKTI organised a ‘Doing Business in Turkey’ event in Croydon on 13 November 2013. Turkey is one of UK's biggest trading partners. UK investment in Turkey has approached 5 billion US$ and Turkish investment in the UK, 800 million US$. The highest Bilateral trade will achieved last year, worth 14,3 billion US dollars This year, between January and September, in 9 months - Exports from Turkey to UK was 6 3 billion US dollars, increase of 3% - Exports from UK to Turkey reached 4.5 billion US dollars, increase of 11%. 7 Mistakes to avoid when doing business in Turkey 1 - It is a totally different system than it is in the UK. It works in the UK - Do not assume it will in Turkey too 2 - Misinterpreting body language including hand gestures and/or tone of voice 3 - Thinking Turkey is same as other Middle East Countries 4 - Not taking social and business customs into account 5 - Expecting same business etiquette will apply in all regions in Turkey 6 - Not realising Turkey’s regional power base 7 - Not realising how important politics and football are for Turkish people.
Transcript of 7 Mistakes to Avoid when doing Business in Turkey
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7 Mistakes to Avoid when doing business in Turkey
UKTI ‘Doing Business in Turkey’ event in Croydon - 13 November 2013
Copyright © Levent Yıldızgören
Levent Yildizgoren – Managing Director - TTC wetranslate Ltd
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Twitter @yildizgorenCoonect with me in Linkedin: linkedin.com/in/leventyildizgoren
TRANSLATION SERVICESwww.ttcwetranslate.com
Copyright © Levent Yıldızgören –2013
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Why Turkey
Turkey ranks 43 out of 70 – Barclays - Digital economy rankings, 2010
HSBC estimates that Turkey to rank 12th in the world by 2050
2300 UK companies operate in Turkey
Major UK businesses in Turkey includes: Marks & Spencer, Tesco, HSBC, Harvey Nichols, Cadbury Sweppes, Vadofone,
36,000 Brits have property in Turkey
Harvey Nicholls have 6 branches worldwide. 2 of them are in Turkey.
+Some factors to take into account
Projected growth rate for Turkey
Openness to new products in Turkey
The number of internet users in Turkey
State of the digital economy in TurkeyThe Economist 2010: http://ow.ly/eZImj
Ease of doing business in Turkey World Bank report - www.doingbusiness.org
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+Targeting the Turkish Market
Demand for your product or service in Turkey
How adaptable is your product/service to Turkish standards
Local competition
Turks’ perception of UK products/services
Any internet censorships which may effect your social media strategy
Turkish consumers’ purchasing habits
Also consider the following
Copyright © Levent Yıldızgören
+‘Made in Britain’ brand
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Copyright © Levent Yıldızgören
7 Mistakes to Avoid
Assuming what works in the UK will also work in Turkey (marketing campaigns, legislation, legal requirement etc)
Misinterpreting body language and hand gestures and tone of voice
Not taking social and business customs into account
Not taking regional differences into account
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Copyright © Levent Yıldızgören
7 Mistakes to Avoid continued
Expecting same business etiquette will apply in all regions in Turkey
Not realising Turkey can be a regional base
Not realising how important politics and football are
+Essentials for Turkey
Your website optimised for Turkey and Turkish market
Content translated and adapted for Turkish market
Register with top level Turkey specific domains
Using Social Media for brand influence
And making good contacts on the ground.
Copyright © Levent Yıldızgören
+and finally…
Keep Calm &
Grow Your Business in
Turkey!Copyright © Levent Yıldızgören
