New company launches rise over 27 percent in Turkey in February

ANKARA - Anadolu Agency

The number of newly established companies in Turkey rose 27.8 percent last month compared with February 2017, the Turkish Union of Chambers and Commodity Exchanges (TOBB) announced on March 16.

In February a total of 7,094 new companies were established, compared to 5,551 businesses starting in the same month last year, TOBB stated.

TOBB figures said the top three fields of operation among new companies were the commercial sector, construction, and manufacturing.

In addition, 621 companies went out of business in February, down 71.91 percent from the previous month. The figure was 2,211 in January.

“In February 2018, 859 companies with foreign partners were established. Some 456 of these companies had Turkish partners, 124 had Syrian partners, and 79 had Saudi Arabian partners,” the report stated.

TOBB is due to release company startup and closure figures for March 2017 on April 20.