A Market Entry Plan Into Turkey 's Capital Istanbul

In a time of global commerce, new business ventures can take on many forms. What used to be local or even national companies have become world-wide. International growth of a business can be extremely beneficial but is not without its challenges. Different countries have different peoples and different cultures - different ways of doing business altogether. If a venture is to be successful, these differences must be well understood.

Direct investment among the richest countries has been one of the eminent features of the world economy since the mid-1980s. Within this broad trend, Europe features prominently as both a home and host to multinational enterprises (MNEs). Not only did many Japanese and American firms invest massively, but even the most somnolent European firms appeared to awake to the need to look beyond their own national borders. (Thomsen and Woolcock, 1993)

Turkey is the 18th largest economy body in the world, the 6th largest economy entity in Europe, GDP with $786 billion, GNI per capita with $10, 970, which belong Upper middle income country (World Bank, 2013). Service industry contributed approximately 64.9% for GDP, the industrial sector just over a quarter, agriculture was about 8.2% (CIA, 2014). Moreover, Turkey has a sustainable and steady growth after structural reforms and macroeconomic stabilization since 2001, Turkish economy is becoming diversified and export-oriented due to the large inflow of FDI (ibid). GDP is expected to grow by about 5% over the next five years, single-digit inflation rate will continue to decline (Invest in Turkey, 2014: 24).

Due to increased mobility of goods, services, labor, technology and capital throughout the world, globalization integrate manufacturing, trade, and investment on an international level. Globalization has made international investment easier than ever. However, considering an investment in EU, there are some issues one should take into account such as economical strengths and weaknesses.

exhibited a high potential for growth: eg, Eastern Europe, Asia and Latin America showed a 2004

With respect to 2015, there was a GDP growth of 3.8% and GDP per capita growth of 2.7%. Growth during this year was well above the average growth rate of the last twenty

Turkey is a particularly interesting country to study. The country dates back to the beginnings of civilization and has been imprinted on by many historical conflicts. In its long existence, it has been occupied by numerous empires, like the Byzantine Empire and the Ottoman Empire, which aided in shaping the regions values and structure to what it is today. The crucial changing point for the country was when it received its independence, or sovereignty, from Russian, Italian, and French occupation. In 1923, led by Mustafa Kemal, the turkish people, through the nationalist movement, gained independence by not allowing the remnants of the Ottoman Empire after their defeat in World War I to let the Allies split up the Turkish-speaking lands. The influences that swept over the nation during the centuries of imperial rule or migration of different peoples from oppressive rule makes the country diverse in culture. The country has also seen a few of periods of military rule. Through these militarily-ruled periods, some of the country’s most fundamental political traditions were adopted, such as adopting a proportional representative system for elections or creating new constitutions. All these actions have shaped Turkey’s government and societal life in interesting ways. Turkey is a secular Republican Parliamentary Democracy, where religion is separated from the government and power is divided between the president, prime minister, and parliament.

Whilst there are downward pressures on growth in economies such as China, Japan and Korea, we are still likely to see growth at around the potential in East Asian countries with the advanced economies seeing growth above potential. The demand for steel in China is expected to be less than over the previous period. European growth is uneven throughout member countries, with minimal growth overall. The US economy is growing faster than expected, with unemployment expected to continue to drop.

Since 2002, production has risen by an annual average of more than 6%. Industry accounted for about 25% of GDP and employed the same percentage of the labour force. In view of the collapse of domestic demand in its worst economic slump to date, Turkey is looking to automotive exports to help revitalize the economy. It needs a lot of capital investment: much of the production of machines, consumer goods, and tools takes place in hundreds of small machine shops and foundries, where little special-purpose machinery is used.

Foreign direct investment (FDI) has played a huge part of the international economy influencing economic growth globally with a total of $1.2 trillion spending via it in 2014 (UNCTAD, 2015). Over the past five years from 2011 to 2016 the UK has seen its FDI increase by almost double to 2213 individual FDI projects, this being an increase of 11% from 2014/15 to 2015/16 (Department for International Trade, 2016). The UK also stands out as the clear leader in attracting this FDI into the UK taking a total of 20.9% of the market share of FDI in the European union (Ernst & Young LLP, 2016). FDI is becoming an influential power within the economic system for the UK. A current FDI project underway seeing the constructing of a new nuclear power

There are many factors which a company should be aware of when they trying to enter an unfamiliar market. This paper will discuss those factors in separate categories, which are government risk, cultural risk and economic risk.

Possible business to be launched in Turkey/Istanbul, on behalf of Global Property & Construction PLC that is a project management consultancy, this will be aimed at advising the state-owned Petroleum Pipeline Corporation (BOTAŞ) on their pipeline expansion projects, with regards to the tendering, procurement, and management.

Any business wishing to expand internationally would have to make a thorough investigation of the country to enter to determine various factors. In general, the ease of doing business in a target country should be at the forefront of the investigation purpose. This includes various factors, including the cost and ease of starting a new business, commercial regulations and costs, and material efforts such as establishing property rights, electricity, and other basic necessities of operating the business. While Indonesia has made several improvements to its business processes, the country remains somewhat challenging for new business entrants.

As mentioned previously Ghana 's economy has had a steady state of increase with 7.3% in 2013, 4.3 in 2014, 3.9 in 2015, and as of

Bose,Haque,Osborn (2003) where I do believe in their arguments that public expenditure made by the government will surely shape the economic growth of the country. It can be seen in the policies made by Tun Razak which initiated in 1970 known as NEP or New Economic Policy that have bring the country to be one