Business Morality

Hello to everyone,

The high cost of loans given by banks to businesses due to the increased policy interest rate in the fight against inflation has put companies that run their businesses with loans in a difficult situation. In the past, the profit rates of our manufacturing companies could cover these interest rates. But in the current situation, the interest rates are much higher than the profit rates, which has stopped the loan receiving process.

The increase in deposit interest rates has become an investment instrument for those who have money in the sector. Nowadays, traders invest their money in interest instead of purchasing new machinery or equipment, providing employment and expanding their business.

Since the main reason for the decline in housing sales is again related to loan interest rates, new housing purchases have decreased significantly. This affects the construction of new buildings and, naturally, the lift sales. Decreasing lift sales are reflected in loss of turnover, trade and, accordingly, employment.

Investments made during times of abundant work, unplanned growth and the idea that “nothing will happen to me” are now being replaced by writing checks, laying off staff and closing down companies.

So much so that some of our companies that have been doing business in the sector for more than 40 years and have taken place in the category of reliable companies have come to the point of closure. This may be a natural situation. It can be called business. However, there is a moral dimension to trade/business and closure. If a company is closed down by reaching an agreement with all employees, suppliers and customers, and with their blessings, no one will have an objection to it. But I condemn the company owners who do not make any effort to save the companies and who look for a way out in the wrong ways.

All employees’ rights are sacred. This is the first rule. The workers’ wages are paid even before their sweat cools. This is the first condition in our custom. The remaining rights (material and moral) must be decided. I would like to remind you of a friend of mine’s words about forgiveness; “When you die tomorrow, don’t make us lie behind your back.”

Shrinking market conditions, firm inflation, competition to cut prices to survive and general social and economic indicators show that the situation cannot recover in a short time. It is estimated that several companies will lay off personnel and downsize by the end of the year.

The most comfortable area for planes to fly is high altitude. It is not easy to go to those altitudes, a certain amount of power and experience is required. The important thing is to stay at that altitude, and every ascent has a descent. When it comes to descent, experience speaks for itself. The power used when ascending is not of much use when descending. You have to cut the gas and use your experience to land safely, depending on some variable factors such as weather conditions.

Just like airplane travel, companies’ rise means that they continue their stable lives for a certain period of time, but when they finally start to descend, they are expected to close down without any accidents. You may have even noticed that in some bad weather conditions when the pilot lands the plane smoothly, there is applause in the cabin. We want our bosses to receive the same applause when companies close down after going through difficult circumstances.

Best regards,