New company launches in Türkiye dip 8.7% in February

By Tuba Ongun

The number of newly established companies in Türkiye dropped by 8.7% year-on-year in February, according to data released on Friday by the Union of Chambers and Commodity Exchanges of Türkiye (TOBB).

A total of 9,131 companies were launched in February, compared to 11,035 in January and 10,001 in February 2024, the TOBB data revealed.

Among these, 495 were either foreign-partnered or foreign-funded businesses.

Meanwhile, 1,720 companies went out of business in February, falling 11.8% compared to the same month last year.

For the January-February period, 20,810 new companies were established across Türkiye, marking a 3.1% decline from a year ago.

However, 3,631 businesses closed during the same period, a 1.2% increase year-on-year, according to TOBB figures.