Fewer firms founded, closed in Turkey, figures show
ISTANBUL - Hürriyet Daily News
The number of newly established firsm fell by 31.6 percent in April, says the Union of Chambers and Commodity Exchanges of Turkey, headed by Rifat Hisarcıkloğlu. AA photoThe number of newly established businesses in Turkey dropped 31.62 percent in April when compared to the same period in 2011, according to figures announced by the Union of Chambers and Commodity Exchanges of Turkey (TOBB).
At the same time, the number of businesses that went out of business in April dropped by 26.6 percent when compared to the same period in 2011, TOBB said May 18.
A total of 3,201 new businesses were established In April, down from 4,681 in April 2011. Meanwhile, 767 businesses were shut down last month, down from 1,045 in the same month last year.
In monthly comparison, there was a bigger difference between newly established and shuttered businesses in April. The number of newly established businesses fell 10.03 percent compared to March, while the rate for closed businesses rose 1.19 percent.
Some 39.49 percent of the new businesses and cooperatives were established in Istanbul, followed by 11.83 percent in Ankara and 5.41 percent in İzmir.
The number of newly established businesses and cooperatives totaled 16,157 in the first three months of the year. A total of 71 cooperatives were established in April.
The number of newly established foreign joint ventures was 310 in April and 1,443 in the first four months of the year. Iran led the list with 58 joint ventures, followed by Germany with 21 businesses in April. A total of 345 Iranian joint ventures were established in the first four months. The figure was 124 for Germany and 66 for Russia.