Number of new businesses in Turkey surged by 27 percent in January: report

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(PHOTO: AFP)

The number of newly established companies in Turkey rose by 27 percent year-on-year in January, the Turkish Union of Chambers and Commodity Exchanges (TOBB) said, according to the SeeNews website.

The figure was up 28 percent year-on-year for new cooperatives and 0.88 percent higher for sole proprietorships in the period under review, TOBB said on Friday.

The number of new companies grew by 33 percent and new cooperatives increased by 11 percent, while the number of sole proprietorships contracted by 0.86 percent in January compared to a month earlier.

The number of closed companies and closed cooperatives increased by 9.91 percent and 5.45 percent, respectively, in the month under review compared with the same month of the previous year.

A total of 1,076 companies with foreign partners were launched in January. One hundred one of these are incorporated companies and 975 are limited liability companies.

One hundred twenty-eight of the newly launched companies with foreign partners conduct wholesale trade for stores in malls that are not allocated to a specific commodity.

Fifty-three of these companies are in real estate and 43 are in mobile catering, while 43 are in management and other administrative consultancy services. Foreign capital partners’ capital investments constitute 76 percent of the total capital of foreign joint venture companies.

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