Union of Chambers and Commodity Exchanges of Turkey

Turkey's 100 fastest growing companies competition, led by the Union of Chambers and Commodity Exchanges of Turkey (TOBB), sponsored by Vodafone Business, in cooperation with TEPAV and TOBB ETU, took into account the 2-year turnover increase of the companies between 2017 and 2019.

The list included companies from 29 different provinces and 32 different sectors. Companies in the top 100 grew 13 times faster than Turkey. Of the fastest growing companies, 33 came from İstanbul, 14 from Ankara and 9 from İzmir. İstanbul-based Tripenia IT Tourism Inc., which increased its turnover by 5,808 percent in 2 years, took the first place. Ankara company Türktem Bilişim Construction LTD. STI came in second with a growth rate of 2.543 percent and Antalya-based Finder Fire Safety Electronic Systems Inc. came in third.

Turkey's 100 results were announced at a ceremony in Ankara with Trade Minister Mehmet Muş and several Chamber-Commodity Exchange Presidents and hosted by TOBB President M. Rifat Hisarcıklıoğlu, with the participation of Vodafone Turkey CEO Engin Aksoy.

Vodafone also contributed to the Turkey 100 program, where TOBB aims to strengthen its economic connections by identifying Turkey's fastest growing SMEs, with free support packages for SMEs. In this context, it offered free solutions from the family of digital marketing and e-commerce solutions to all SMEs applying and winning the program.

- Minister of Commerce Mehmet Muş

In his speech, Trade Minister Mehmet Muş pointed out that entrepreneurship is the lifeblood of economic development and development, and said that “as the number of entrepreneurs and the number of companies established accordingly increases in a country, economic growth is gaining momentum.” Minister MuŞ said: “The entrepreneur is the person who is not content with the present, who has a wide horizon, who can sense the needs and priorities of society, who reads the conditions well, who aims at the highest and who can also see ahead. Today, the 100 fastest growing companies in our country, which will be awarded here, have grasped the importance of entrepreneurship and healthy competition; they are players who have implemented new ideas and become pioneers in the industry. We consider all our companies and brands, especially these 100 companies, as our national wealth. As these companies grow, our economy will grow, and as our economy grows, our country will have climbed to the top of the world economy. As the Ministry of Commerce, we will either pave a path for each of our entrepreneurs, find a way or guide them. Turkey's future is bright. We don't listen to people who write disaster scenarios. We rely on Turkey's potential. We know that this country has very strong potential both in terms of human resources and in terms of investment environment. As long as we trust our country, as long as we join hands. Turkey has no problems that we cannot solve.”

- TOBB President Hisarcıklıoğlu

TOBB President Rifat Hisarcıklıoğlu said, “We will ensure that Turkey takes its place among the world's largest economies and becomes a leading country by working together.”

Hisarcıklıoğlu said that the 2017-2019 turnover growth rate of the companies applying while the list is being prepared is taken into account.

Hisarcıklıoğlu stated that the average growth of the 100 listed companies in this period was 498 percent. Because they performed 13 times higher than the national income growth in Turkey. During the same period, they increased their production per employee, that is, their productivity by an average of 212 percent. In 2019, each company made an average of 65 million liras of sales. Again, they employed an average of 113 people each. In 2017-2019, their employment increased by 148 percent. 76% of these companies export. It exports to 78 different countries. I am proud of our companies that have achieved such great success and are eligible to be on the list, and I congratulate them all wholeheartedly.”

Hisarcıklıoğlu stated that the average age of these companies is about 11, “The regional distribution of the list is also quite remarkable. There are companies from 29 different cities on the list.

The rise of Anatolia is clearly seen here. There is also an interesting distribution in terms of sectors. The list includes companies from 32 different sectors, from IT to machinery, wholesale to metal products, electronics to engineering.”

Stating that the Turkish business world has been going through many difficult periods so far, Hisarcıklıoğlu said, “By joining hands with the public-private sector, we have managed to overcome all these troubled periods. So we must never be pessimistic, we must not give up in the face of difficult circumstances. Because the entrepreneur is not pessimistic, he is always full of hope and excitement. As the Turkish private sector, we say that if we could do it yesterday, we can do it today. We will ensure that Turkey takes its place among the world's largest economies and becomes a leading country by working together.”

- Vodafone Turkey CEO Engin Aksoy

Vodafone Turkey CEO Engin Aksoy said, “SMEs, which are the lifeblood of the country's economy, account for 99.9% of the total number of enterprises. With the pandemic, we have all seen that it is essential to digitize businesses of all sizes, including SMEs. E-commerce and digital marketing were among the highlights of this period for businesses to keep up with the new world and increase their competitive power. Based on this determination, we have taken action to accelerate the adaptation of SMEs to digital marketing and e-commerce. We have joined forces once again with TOBB, our valuable business partner, with which we have signed many projects, and we have been included in the TOBB Turkey 100 program. We congratulate our SMEs who received awards today.”

- Grew 13 times faster than the national average

The figures show that 100 companies in Turkey are growing 13 times faster than Turkey. When Turkey's 100 companies are accepted as a single company, the total turnover in 2019 is TL 6.47 billion and the average turnover in 2019 is TL 64.7 million. Total employment in 2020 was 11,339 people and the average employment per company was 113. 2017-2019

The average growth rate in the period was 498 percent.

-Computer programming and consulting firms are predominant

While there were 32 companies belonging to different sectors in the Turkey 100 List, the most density was seen in the field of computer programming and consultancy. I'm not going to do that machinery and equipment manufacturing, wholesale trade, fabricated metal products, computer, electronic and optical products and architecture and engineering activities were followed.

- 76 of the 100 fastest exports

Of the 100 fastest growing companies, 76 export to 78 different countries. Among the exported countries, Germany, where 25 companies export products, stands out. Germany is followed by the United Kingdom, Azerbaijan, Italy, France, Saudi Arabia, the United States, the United Arab Emirates, Bulgaria, the Netherlands, Iraq, Israel.

It is noted that Turkey's 100 fastest growing companies are adapting to the way they work remotely during the Covid-19 process. In the process, 67 said they benefited from at least one public support. The most used public supports are: Short Work Allowance, support packages of public banks, employment support, tax and premium payments.

- Average age of CEOs is 42

More than half of Turkey's 100 companies said they were seeking financing within the next year. During covid-19, 48 of the companies met their financing needs from their equity, while 52 benefited from public/private bank loan opportunities. The number of companies seeking financing in the next year is 60. 41.7 percent of companies say they need more than TL 10 million in financing. 26.7 percent of companies will use the additional financing for working capital and machinery/installation investment.

- 10% have women managers

There are young companies with young managers on the Turkey 100 List. The average age (year of establishment) of the companies is 11.2 years. The average age of CEOs (General Managers) is 42. Ten of the 100 fastest growing companies are run by women.

The education levels of the people who are the final decision makers in the companies in the Turkish 100 List were also noted. The officials of the 85 companies on the list are at least university graduates. Most of the fastest growing people are aware that in-service training is important. Of the 100 companies, 89 said they were organizing internal and/or out-of-house training activities aimed at improving the qualifications of their employees.

Among Turkey's Fast Growing Companies, the number of companies that help their employees start their own businesses is 39.