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Istanbul Start-Ups Starting to Hot Up

Posted on 07 May 2013

New data from the Istanbul chamber of commerce shows an impressive 18% growth in the first four months of this year. According to the report some 18,185 newly-established companies registered with the Istanbul Chamber of Commerce (ITO)   during the period. Meanwhile business shut-downs were also down by 13.41 percent over the same period, with 4,849 in total.

When combined, the increase in the number of new businesses was 35.53 percent in the first four months of 2013 compared to a year earlier.

“The rise in the figure highlights entrepreneurial confidence in Turkey’s economy and the continuation of the stability,” Murat Yalcintas, ITO head, said in a written statement. He said the improvement in figures was also owed to the new Turkish Commercial Code which implemented easier start-up procedures.

There are so many reasons behind growth like this in Turkey, its new special economic zones and incentives packages on things like R&D have brought dozens of global companies into Istanbul with the intent of setting up a hub, tourism is soaring, and hotels and shopping malls are opening by the bucket-load.

All these things open up opportunities for small-business start-ups, cleaning companies have an opening in the hotel trade, not to mention garden maintenance firms to maintain the grounds and the more business you have the more rubbish there is to be collected presenting opportunities in that sector — and of course you will always have street and market traders.

Growing businesses, growing employment, growing tourism, growing population, Turkey is just growing silly, and all these increasingly affluent people will continue to need a roof over their head. Do your own research of course but get in now while prices are low.

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