Some 116,000 firms established in Türkiye in January-November

By Gokhan Ergocun

ISTANBUL (AA) – The number of newly established companies reached 116,009 during the first 11 months of 2023, down by 7.3% on a yearly basis, according to data released by the country's top trade body on Friday.

According to the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), the figure included 11,411 foreign-partnered companies.

In total, 24,045 companies were liquidated in the January-November period, up by 27.5%.

In November, 10,403 firms were established, down by 21% on a yearly basis, while 2,417 firms closed, up by 46.7%.

The number of launches of foreign-partnered companies was 895 last month.