New company launches in Türkiye soar 11.6% in January-February

By Gokhan Ergocun

ISTANBUL (AA) – The number of newly established companies in Türkiye rose 11.6% year-on-year in the first two months of this year, the country’s top trade body revealed on Friday.

A total of 23,713 new companies were set up in the January-February period, according to the Union of Chambers and Commodity Exchanges of Türkiye (TOBB).

Some 2,620 of the overall newly established firms were foreign-partnered or foreign-funded.

As many as 2,744 companies went out of business in the two-month period, a 52.5% increase from the previous year.

In February alone, the number of companies set up in Türkiye dropped 3.8% year-on-year to 9,473, according to TOBB.

These included 1,200 new foreign-partnered or foreign-funded companies.

Some 1,178 companies went out of business last month, up 52.4% on a yearly basis.