Prior to the most recent global socioeconomic crisis, which started in August 2008 with the bankruptcy of Lehman Brothers Investment Bank.
Below Statistics provides a striking statistics prepared based on the World Bank data:
The research study conducted on the duration of the companies in Turkey based on the data collected by the World Bank demonstrate that more than 90% of the companies within the Turkish economy were established in the past 20 years and the majority of the companies in Turkey are managed by young investors and entrepreneurs, and
it has been found out that, 80% of the companies are terminated before their fifth year,
while 16% are closed down before they reach their tenth year
and the remaining 4% have an average life of 34 years.
Further positive and negative comments may be made based on these statistical data.
However, the general picture shows that the investor and entrepreneur culture concentrates on three main mistakes: