Union of Chambers and Commodity Exchanges of Turkey

Under the leadership of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), in cooperation with the Economic Policy Research Foundation of Türkiye (TEPAV) and TOBB University of Economics and Technology (ETU), Türkiye's fastest growing 100 companies competition, which was held by taking into account the 2-year turnover growth of companies between 2019-2021, was concluded.

The list included companies from 27 different provinces and 35 different sectors. The average growth rate of the companies in the top 100 in the 2019-2021 period was 569% in two years. The rate of increase in their nominal revenues reached 8 times the increase in Türkiye's nominal national income. Of the fastest growing companies, 23 were from İstanbul, 19 from Ankara and 9 from Adana. Adana-based AFM Food and Chemicals LLC, which increased its turnover by 6,628% in two years, ranked first. İstanbul-based Tobio Novelfarma Pharmaceuticals Industry Co. Inc. ranked second with a growth rate of 5,631% and Aydın-based Ada Construction and Marble LLC ranked third with a growth rate of 1,744%.

Türkiye 100 results were announced at a ceremony in Ankara hosted by TOBB President Rifat Hisarcıklıoğlu with the participation of Trade Minister Ömer Bolat and the business world.

- Hisarcıklıoğlu: “Türkiye 100 companies' employment increased by 49% in 2019-2021 period”

In his speech here, TOBB President M. Rifat Hisarcıklıoğlu thanked Minister Bolat on behalf of the Turkish private sector for highlighting successful entrepreneurs and supporting every positive business.

Rifat Hisarcıklıoğlu said that while preparing the Türkiye 100 list, the 2019-2021 turnover growth rates of the applicant companies were taken into account.

Stating that the average growth of the 100 companies on the list was 569% in the period in question, Hisarcıklıoğlu used the following statements: “This is a very striking figure. Because they showed a performance 8 times higher than the national income growth in Türkiye. In the same period, they increased their production per employee, that is, their productivity, by an average of 267%. They also employed an average of 103 people each. In the 2019-2021 period, employment of Türkiye 100 companies increased by 49%. 71% of Türkiye 100 companies export. They export to 76 different countries. I am proud of our companies that have achieved such great success and qualified for the Türkiye 100, and I congratulate them all wholeheartedly.”

Explaining that Türkiye 100 companies use digital technology very well, Hisarcıklıoğlu said, “They do not see the resources they allocate to the training of their employees as an expense, they attach great importance to this. They work with a high environmental awareness and sustainability approach.”

Hisarcıklıoğlu drew attention to the regional distribution of the Türkiye 100 list and noted the following: “There are companies from 27 different cities on the list. The rise of Anatolia is also clearly seen here. There is also an interesting distribution in terms of sectors. The list includes companies from 35 different sectors ranging from IT, machinery, wholesale trade, metal products, electronics and engineering. This diversity is actually the best proof that there are opportunities in every sector in our country and that success can be achieved in every sector with the right business model.”

Stating that entrepreneurship is the key to development, Hisarcıklıoğlu underlined the need for more entrepreneurs.

Hisarcıklıoğlu pointed out that they want to increase the number of entrepreneurial role models with Türkiye 100 and made the following assessment: “We want every company here to be an example for new entrepreneurs. We want all our young people and women to hear these success stories. We want them to hear them so that they will be more eager to become entrepreneurs. I would also like to address our companies that applied to the Türkiye 100 program but did not make it into the top 100. You grew by an average of 186% in the 2019-2021 period. I would like to congratulate these companies for their success. Never be upset that you did not make the list, we will announce next year's program soon.”

Stating that the Turkish business world has gone through many challenging periods, Hisarcıklıoğlu said, “We have been able to overcome all these troubled periods by joining hands with the public-private sector. We will ensure that Türkiye takes its place among the world's largest economies and becomes a leading country by working together. Once again, I heartily congratulate the founders, managers and employees of our companies, which are the pride of our country.”

- Trade Minister Ömer Bolat

Congratulating all the award-winning enterprises and wishing them continued success, Trade Minister Ömer Bolat noted that the Türkiye 100 Awards organized by TOBB is an important event that demonstrates the country's economic dynamism and potential for success. “These awards, as tangible evidence of progress at both the individual and national level, reinforce our belief in further innovation and international success in the future. I am confident that these achievements will be carried forward with sustainable growth and innovation.”

Emphasizing that the awards will open new horizons for companies, Bolat said, “It will reinforce your leadership in your sectors and help you gain more recognition in the national and international arena. This success will allow you to expand your business networks, step into new markets and motivate you even more on your journey of innovation and growth.”

- They grew 8 times faster than the country as a whole

The rate of increase in nominal revenues of the 100 fastest growing companies in the 2019-2021 period was 8 times higher than the increase in Türkiye's nominal national income.  The average growth rate of the companies in the 2019-2021 period was 569%. When Türkiye 100 companies are considered as a single company; total turnover in 2021 was 23.3 billion TL, average turnover in 2021 was 232.7 million TL, total employment in 2021 was 10,269 people, average employment per company was 102.69 people.

- 71 of the fastest 100 export

Türkiye 100 list includes companies from 35 different sectors, with the highest concentration in wholesale trade. This was followed by computer programming and consultancy, architecture and engineering activities. 71 of the 100 fastest growing companies export to 76 different countries. Germany stands out among the exporting countries.

- Young managers, young companies

More than half of Türkiye 100 companies stated that they are in search of financing. Young companies with young managers stand out in the Türkiye 100 list. The average age of companies is 13.2 years. The year of establishment of the companies varies between 1987 and 2018. The average age of CEOs is 46. There are 7 companies with CEOs under the age of 35. Among 100 companies, 5 companies are led by women.

- Skilled human resources

The education level of the final decision-makers in the companies on the Türkiye 100 list is high. In 75 companies, the most authorized persons have a university degree or higher. It is also observed that companies have qualified human resources. The number of companies with more than 50% of their total employees with a university degree or higher is 36. The use of websites and social media is also widespread in companies. 21 companies make sales through digital platforms (e-commerce).