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Turkey: New company launches rise over 50 pct

Turkey: New company launches rise over 50 pct
More than 9,000 new companies established in January, according to major business body

By Muhammed Ali Gurtas

ANKARA (AA) - 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 Friday.

In January, 9,535 new companies were established, compared to 6,210 business 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. "427 of these companies had Turkish partners, 118 had Syrian partners, 84 had Saudi Arabic partners."

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

In all of 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.

source: News Feed
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