New company launches in Türkiye up 38.5% in August

Nearly 12,200 new companies set up in Türkiye last month, according to top trade body's data

By Tuba Sahin

ANKARA (AA) – The number of newly established companies in Türkiye climbed 38.5% year-on-year in August, according to data released by the country’s top trade body on Friday.

A total of 12,193 new companies were set up in August, up 46.1% from the previous month, data from the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) showed.

Among them were 1,943 foreign-partnered or foreign-funded companies, compared to 1,199 firms in August 2021.

Some 1,713 companies went out of business last month, an annual rise of 29%.

In January-August, 86,560 companies started doing business in Türkiye, a 23% year-on-year jump.

The number of companies that went out of business in the first eight months of this year was also up, soaring 70% on an annual basis to 13,260.

Kaynak: