Visual Stories of Female Entrepreneurs

IFTF#Success 2014
IFTF#Talent 2013
IFTF Warsaw 2012
IFTF Zagreb 2011
IFTF Istanbul 2011

Turkey

Financial Sector Enabling Environment in Turkey

Turkey
Ease of doing business (rank)	71
Starting a business (rank)	72
Starting a business - Cost (% of income per capita)	10.5
Starting a business - Procedures (number)	6
Starting a business - Time (days)	6
Starting a business - Minimum capital (% of income per capita)	7.2
Dealing with construction permits (rank)	142
Dealing with construction permits - Cost (% of income per capita)	164.3
Dealing with construction permits - Procedures (number)	20
Dealing with construction permits - Time (days)	180
Registering property (rank)	42
Cost (% of property value)	3.3
Procedures (number)	6
Time (days)	6
Protecting Investors (rank)	70
Getting credit (rank)	83
Trading across borders (rank)	78
Enforcing contracts (rank)	40
Enforcing Contracts - Cost (as % of claim)	24.9
Enforcing Contracts - Procedures (number)	36
Enforcing Contracts - Time (days)	420
Resolving insolvency (rank)	124

Source: World Bank Doing Business 2013 (RANK: Best=1; Worst=185)

Starting a business

Turkey made starting a business less costly by eliminating notarization fees for the articles of association and other documents.

Paying taxes

Turkey lowered the social security contribution rate for companies by offering them a 5% rebate.

Dealing with construction permits

Turkey made dealing with construction permits easier by eliminating the require-ment to build a shelter in nonresidential buildings with a total area of less than 1,500 square meters.

Enforcing contracts

Turkey made enforcing contracts easier by introducing a new civil procedure law.

Conclusion

Starting a business in Turkey is a long lasting set of specific procedures – the bureaucratic and legal steps that an entrepreneur must complete to incorporate and register a new firm. Resolving insolvency remains the main problem in Turkey business environment.

The most problematic factors for doing business in Turkey:

Access to financing
Tax rates
Inadequately educated workforce
Inefficient government bureaucracy
Foreign currency regulations
Tax regulations
Inadequate supply of infrastructure

IFTF Members from Turkey

Seden

Our Network

FOLLOW US!