Turkey: New Company Launches Soar in September


ANKARA, Oct 23 (AA/APP): A total of 10,603 new companies were established in Turkey in September, up 37.77% on an annual basis, the country’s top trade body said on Friday.

The figure also marked a monthly rise of 13.38%, according to data released by the Turkish Union of Chambers and Commodity Exchanges. Some 1,470 companies went out of business last month, up 18.45% year-on-year. Over 85% of the new firms are limited companies and 13% are joint stock companies.

The top three fields of operation among new companies were wholesale and retail trade, manufacturing, and construction. In September, 1,197 companies with foreign partners were established – 665 have Turkish partners, 63 have Iranian partners, and 36 have Syrian partners. Foreign capital partners’ capital investments constitute 77.47% of the total capital of foreign joint venture companies, according to the report.

In the first nine months of this year, 73,912 companies started doing business in Turkey, up 22.84% year-on-year. Some 10,232 firms were liquidated, a rise of 11.56% from the same period last year. The number of closed companies increased by 13.7% to reach 9,962.

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