Rapidly growing market
Turkey's market is growing with a CAGR of 20-30%, which could be a good market opportunity for many scaling startups
Low English proficiency
Compared to other MENA countries, it could be difficult to communicate in Turkey, starting from business registartion, ending with CustDev
Crossroad of Europe and MENA
When launching in Turkey there is an opportunity to expand both to the west and to the east
Complicated tax system & incorporation rules
Startups don't have many preferences, and registration rules are complicated
High digitalization potential
Many spheres are not yet digitalized – such as real estate management, medicine and logistics, there is still a huge room for improvement
Unstable economy
The ongoing Turkish currency and debt crisis is characterized by the lira (TRY) plunging in value & high inflation