New company launches up 28 percent

ANKARA

The number of newly launched companies increased by 27.8 percent in September from a year ago, the Turkish Union of Chambers and Commodity Exchanges (TOBB) announced on Oct. 21.

Last month, more than 13,000 new companies were established, compared to 10,200 businesses launched in the same month of 2021.

The number of newly founded companies also showed a 6.8 percent increase last month from August, according to TOBB.

More than half of the new enterprises and cooperatives were launched in Türkiye’s three largest cities: Istanbul, Ankara and İzmir.

Most of the newly launched companies in August operate in the trade, manufacturing and construction sectors.

The report also said that 1,928 of the new companies were established with foreign partners last month, including 135 Russian and 129 Iranian partners.

In September, nearly 2,000 companies went out of business, up 25.8 percent from a year ago.

In January-September, 99,583 new companies were launched in Türkiye, rising 24 percent from the same period of 2021, while the number of company shutdowns rose by 63 percent to 15,247.