Turkey sees 37 pct rise in new companies
ANKARA - Anadolu Agency
The number of newly established companies in Turkey soared 37 percent on an annual basis in February, the Union of Chambers and Commodity Exchanges of Turkey (TOBB) revealed on March 20.
According to the organization, 9,155 companies were set up last month, up from almost 6,700 in February 2019.
The figures showed that 824 companies went out of business in February, marking a 32 percent rise compared to the same month of last year.
In the first two months of the year, more than 19,600 new companies started doing business in Turkey, with a 31 percent annual increase, according to TOBB.
However, on a monthly basis, the number of newly founded companies decreased 13 percent.
The number of companies which were shut down in February also declined 61 percent compared to January figures.
In the meantime, a total of 1,142 foreign-partnered or foreign-funded new companies were launched in the month.
The number of foreign-partnered or foreign-funded new companies exceeded 2,200 in January-February.