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Having noted the importance of small‐ to medium‐sized enterprises (SMEs) in Turkey, studies a number of current management issues such as globalisation, European Union (EU) membership, Internet and telecommunication technologies, protectionism, foreign capital inflow, and increasing consumer awareness that are likely to play a crucial role in the SMEs’ future. After conducting in‐depth interviews with 31 SME owners/managers, found that there is a positive attitude towards these issues even though the respondents lack a clear and comprehensive understanding of the pros and cons. Hence, in light of the findings of this study, there is an obvious need for gaining insights about the business environment for Turkish SMEs and designing and employing a strategic perspective if they are to capitalise on emerging opportunities and avoid threats in the new business environment.