This research encompasses the challenges of being a foreign entrepreneur in the Turkish Republic of Northern Cyprus (TRNC). It aims to understand the underlying dynamics that being a foreign entrepreneur in the TRNC necessitates. To better comprehend the scope of this study, an inductive approach is applied from general observations cultivated from the participants, and a conclusion is derived from their responses. In order to dissect the experiences of the respondents in connection with the subject of entrepreneurship, a phenomenological approach was used to conduct semi-structured interviews that allowed the interviewees to possess the capacity to elaborate on certain areas while at the same time restraining them within the paradigm of the subject. A total of six foreign entrepreneurs were reached through snowball sampling techniques. All interviews were recorded and transcribed, and a thematic data analysis was adapted to narrow the responses to a consistent pattern to better interpret the outcomes. From the obtained and analyzed data, the participants reveal several key decisive factors that constitute challenges that impact their businesses as foreigners in the TRNC. These factors include, but are not limited to, the lack of adequate infrastructure, grueling governmental red tape, regulations, and requirements, lack of governmental interventions, substandard information flow, lack of an appropriate network, and high taxes. In addition, these factors are likewise crucial in the decision-making process of prospective foreign entrepreneurs. Furthermore, some foreign entrepreneurs’ businesses flounder as a result of the lack of adequate planning, the lack of experience in the relevant field, financial issues, a lack of knowledge in customer attraction and retention, lack of proper strategy.

Entrepreneurial ecosystems, TRNC, entrepreneurship, small island nations

https://doi.org/10.64192/09kl4nm

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