Nearly 12,450 new companies set up in Turkiye last month, top trade body’s data shows
The number of newly established companies in Turkiye soared 33.3% from a year ago in October, according to data released by the country’s top trade body on Friday.
A total of 12,443 new companies were set up in October, the Union of Chambers and Commodity Exchanges of Turkiye (TOBB) data showed.
The figure marked a monthly decline of 4.5%.
Among them were 1,651 foreign-partnered or foreign-funded companies, an increase of 31% year-on-year.
Some 1,706 companies went out of business last month, an annual jump of 13.8%.
In the January-October period, the number of companies set up in Turkiye surged 24.9% from a year earlier to 112,026.
Some 16,953 companies went out of business in the year’s first 10 months,an increase of 55.9% year-on-year.
In the 10-month period, 16,775 new foreign-partnered or foreign-funded companies were launched, TOBB data showed.