Some 76 percent of companies born in 2022 survive next year

ANKARA

The one-year survival rate of the enterprises born in 2022 was 75.5 percent, according to data from the Turkish Statistical Institute (TÜİK).

This was 75.3 percent for the companies born in 2021, the statistics authority said.

The one-year survival rates of enterprises born in 2019 and 2020 were 80.6 percent and 84.1 percent, respectively.

The three and four-year survival rates of enterprises born in 2019 were 58.2 percent and 47.5 percent, respectively.

The birth rate of enterprises in 2022 was 16.1 percent and the employment share of enterprises born in 2022 was 5.5 percent.

However, the birth rate of enterprises decreased to 15.2 percent in 2023 and the employment share of enterprises born in 2023 decreased to 5.0 percent.

The birth rate refers to the number of births as a percentage of active enterprises.

The highest birth rate for enterprises by sector was in the wholesale and retail trade, repair of motor vehicles and motorcycles sector at 33.5 percent for 2023.

This sector was followed by transportation and storage with 17.9 percent and manufacturing with 10.1 percent.

The death rate of enterprises, which was 9.6 percent in 2020, increased to 11.4 percent in 2021.

The employment share of enterprises died in 2020 was 3.6 percent, while it was 4 percent in 2021, TÜİK said.