New company launches in Türkiye leap 29% in November

By Tuba Sahin

ANKARA (AA) - The number of newly established companies in Türkiye jumped 29.2% in November from a year earlier, according to figures released by the country’s top trade body on Friday.

A total of 13,169 companies were set up in November, up from 12,443 in October, data from the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) showed.

These included 1,821 foreign-partnered or foreign-funded companies.

During the month, 1,648 firms went out of business, an annual rise of 6.5% from November 2021.

In January-November, 125,195 new companies have been set up in Türkiye, marking a yearly hike of 25.3%. In the 11-month period, some 18,596 new foreign-partnered or foreign-funded companies were launched in the country.

The number of firms that have gone out of business reached to 18,601 in the first 11 months of this year, an annual increase of 49.8%, according to TOBB figures.