Turkey sees 37% rise in new companies

Over 9,150 new businesses launched in February, a 37% year-on-year increase

The number of newly established companies in Turkey soared 37% on an annual basis in February, the Union of Chambers and Commodity Exchanges of Turkey (TOBB) revealed on Friday.

According to the organization, some 9,150 companies were set up last month, up from almost 6,700 in February 2019.

The figures showed that 824 companies went out of business in February, marking a 32% rise compared to the same month of last year.

A total of 1,142 foreign-partnered or foreign-funded new companies were launched in the month.

In the first two months of the year, more than 19,600 new companies started doing business in Turkey, with a 31% annual increase, according to the TOBB.

The number of foreign-partnered or foreign-funded new companies exceeded 2,200 in January-February.

Anadolu Agency

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