New company launches grow in February

ANKARA- Anadolu Agency

A total of 9,856 new companies were established in Turkey in February, up 7.7% on an annual basis, the country’s top trade body said on March 19. 

Some 769 companies went out of business last month, down 6.7% year-on-year, according to data released by the Turkish Union of Chambers and Commodity Exchanges.

Over 86% of the new firms were limited companies and 13.9% were joint stock companies.

The top three fields of operation among new companies were wholesale and retail trade, manufacturing, and construction.

In February, 1,081 companies with foreign partners were established.

A majority of the new companies- 4,060- opened in Istanbul, followed by 925 in the capital Ankara, and 554 in the Aegean province of Izmir.

During the month, 145 cooperatives were also launched, according to the data.

A total of 20,185 new companies were set up in Turkey over the first two months of this year, marking a 7.9% annual rise.

In this period, 1,721 companies were liquidated, a 41.5% decrease compared to the first two months of 2020.