 released on Friday.){kind=link}
The number of companies that shut down in Turkey rose by 12 percent in the first five months of 2025 compared to the same period last year, according to data from the Turkish Union of Chambers and Commodity Exchanges (TOBB) released on Friday.
Between January and May, a total of 11,108 companies closed, up from 9,917 a year earlier. Closure of cooperatives also rose by 5.1 percent to 332, while the number of closed sole proprietorships declined by 9.5 percent to 6,774.
Meanwhile, 44,896 companies were established during the same period, reflecting a 2.6 percent drop from last year. The number of newly formed cooperatives fell sharply by 26.7 percent, while sole proprietorship registrations rose by 16.1 percent.
In May alone 2,921 companies closed, marking a 13.2 percent increase from April. Co-op shutdowns surged by 32.1 percent month-on-month, while closures of sole proprietorships rose by 4.7 percent.
Compared to May 2024, company closures were up 5.9 percent, cooperative closures rose by 23.3 percent and sole proprietorship closures dropped by 8.7 percent.
Despite the overall decline in new company registrations, May saw a 15.5 percent increase in company formations compared to the previous month, totaling 8,765. Cooperative registrations jumped 48.1 percent to 191, and sole proprietorships increased by 19.7 percent to 1,404.
Additionally, 568 foreign-invested companies were established in May. The majority — 492 — were limited liability firms. Most operated in wholesale trade, software development and construction. Foreign capital accounted for 89.3 percent of the total capital in these joint ventures.