New company launches in Türkiye dip 3% in November

By Tuba Sahin

The number of newly established companies in Türkiye dropped 3% year-on-year in November, according to data released Friday by the Union of Chambers and Commodity Exchanges of Türkiye (TOBB).

A total of 10,092 companies were launched last month, down from 10,808 in October and 10,403 in November 2022, the TOBB data said.

Among these, 599 were foreign-partnered or foreign-funded companies.

In contrast, the number of businesses shutting down surged. A total of 2,631 firms went out of business in November, an 8.9% increase compared to the same period last year.

From January to November, 102,804 new companies were established across Türkiye, down 11.4% from the previous year.

Meanwhile, 23,861 businesses closed during the same 11-month period, marking a sharp 19.7% rise year-on-year, TOBB figures showed.