New company launches up 40 pct in June

ISTANBUL

The number of newly launched companies increased by 40.1 percent in June from a year ago, the Turkish Union of Chambers and Commodity Exchanges (TOBB) announced on July 22 in a report.

Last month, a total of 13,396 new companies were established.

The new company launches also rose by 41.9 percent from May, data from TOBB showed.

In the first six months of 2021, the number of newly established businesses increased nearly 21 percent from January-June last year to stand at 66,021.

The chamber’s figures showed that most of the newly launched companies in June are operating in the trade, manufacturing and construction sectors.

The number of company shutdowns soared 115 percent in June from a year ago and increased by 32 percent compared with May,.

Last month, 2,640 firms went out of business, according to the TOBB data.