Here are some other entrepreneurial facts about Turkey:
• In all the countries business failure rates are higher for the services industry than for the manufacturing industry. In addition, business failure rates increase during global recession periods and small businesses, which have one to four employees, have the highest business failure rates.
• In Turkey, the percentage of women amongst entrepreneur employers is 1% and it is 13% amongst the self-employed.
• The biggest players in the venture fund investors arena are China, Brazil, and Turkey.
• Even though slowing down of global economical growth rates keep cutting down on the opportunities for new ventures, Turkey is still a medium scale market. It has a growing economy as well as a large and young population. The consumer demand is vigorous… This leads to important factors which encourage entrepreneurship. Russia’s trade relations and Asia’s rise in the West are all indicators of Turkey’s future importance…
So, what are the global category trends? Which sectors are becoming more important in terms of entrepreneurship?
• It is expected that the most heavily invested categories will be virtual reality, business software design, hardware to interpret big data, digital health, online marketplaces, virtual currencies, fundings, and insurance.
• With the technological advancements, the essential area will be “Security”. Mobile and Cloud are necessities for businesses that deal with Big Data, yet there are still concerns about data security. There is still room for growth for this. The need for new-generation user-friendly security solutions will grow.
• Even though 3D Printing is still in its initial stage in Turkey, it will automatize several sectors. Small businesses now have the financial capacity to reach the 3D world. The manufacturing industry has to develop its own alternatives to compete with the automation that the 3D printers introduce into the game.
• Visuality is still important. YouTube videos will have different usage areas under the monopoly of businesses. Platforms, such as Pinterest and Instagram, which make customer experience more fun, will become even more interactive. “How to” videos will become valuable.
• According to IBM’s Technology Trends report, 75% of small businesses invest in big data analytics. The fact that big data can be analyzed by a random employee is an indicator that there will be user friendly advancements in this field.