Number of new enterprise launches in Turkey rises over 50 pct in 2018

ANKARA - Anadolu Agency

The number of newly established companies in Turkey rose 53.5 percent year-on-year last month, the Turkish Union of Chambers and Commodity Exchanges (TOBB) announced on Feb. 16.

In January, 9,535 new companies were established, compared to 6,210 businesses starting in the same month last year. 

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

“In January 2018, 844 companies with foreign partners were established,” the report said. 

“Some 427 of these companies had Turkish partners, 118 had Syrian partners, and 84 had Saudi Arabian partners,” it added. 

TOBB also noted that the number of closed companies in January was up 14.62 percent on a yearly basis. 

Throughout 2017, 72,871 companies were established — up 14.4 percent from 2016 — while 13,517 companies went out of business. 

On March 16, TOBB will release related figures for the second month of this year.