History of Turkey

Turkey’s Desirable Business Environment

Turkey, one of the countries in Europe, with an approximate population of a population of 81 million people, is a desirable location for businesses (Forbes, 2017). This is due to its rising free market economic tendency and the government’s decreasing participation as time goes on. Because of the Turkish people’s commitment to a strong work ethic, a venture in the banking sector is crucial. Bocchi (2016) noted that Turkish people work hard and establish reliable working connections that are founded on trust. Turkish workers have a strong sense of professionalism and hospitality, which will undoubtedly have a beneficial impact on the expansion of the company. Moreover, the customs duties are favorable as they are not exploitative.

Partnerships for Success in Turkey

To start trading in Turkey, partnering with an already established business is an appropriate method of beginning the venture since it will play a pivotal role in attracting customers with ease. Since the Turkish citizens are averse in matters relating to banking activities, hiring them is vital in ensuring there is local representation in the organization (Forbes, 2017). As a result, they will play a significant role in explaining and underlining the possible barriers and ways of evading them. Hiring the Turkish citizens can either on a full-time, part-time or contractual basis. Nevertheless, the Turkish economy faces challenges such as a rather stagnating economy as characterized by the decline in the value of its currency against the US dollar (Bocchi, 2016). Moreover, the country experiences a reduction in the foreign direct investment a situation that prevents investors from adequately investing in the country due to the unpredictable nature of the economy. The opportunity for communicating the gospel of Jesus as underlined by the vast population of the non-Christian faith (Operation World, 2017). However, the rate of backsliding is a major challenge as well as traumatic experiences about conversion from an Islam to a Christian due to the isolation problem. The focus for a prayer would involve praying for the Turkish leaders to embrace wisdom in developing healthy relationships, anchored by Biblical applications (Operation World, 2017).

References

Bocchi, A. &. (2016, April 13). Turkey: The Banking Sector Needs Profitability-Enhancing Reforms . Retrieved from Economonitor: http://www.economonitor.com/blog/2016/04/turkey-the-banking-sector-needs-profitability-enhancing-reforms/

Forbes. (2017, September 3). Best Countries for Business; Turkey. Retrieved from Forbes: https://www.forbes.com/places/turkey/

Operation World. (2017, September 14). Turkey. Retrieved from Operation World: http://www.operationworld.org/turk