Local Turkey

Turkey: New company launches soar in January-April

Number of newly launched firms up 32.3% in 1st 4 months of 202

The number of newly established companies in Turkey surged 32.3% year-on-year in the first four months of this year, the country’s top trade body said on Friday.

Some 40,629 companies were launched this January-April, up from 30,721 in the same period 2020, according to data released by the Union of Chambers and Commodity Exchanges of Turkey (TOBB).

During the four-month period, 3,651 firms went out of business,a figure down 11.4% versus the same period last year.

A total of 4,195 foreign-partnered or foreign-funded new companies were launched in the January-April period.

Monthly figures

In April, 8,565 companies started doing business in Turkey, up 204.5% on an annual basis, according to TOBB.

The number of companies that went out of business also grew 130.1% year-on-year to 957 last month.

According to the TOBB report, 977 companies with overseas capital were established this March.


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