Turkey: New company launches soar in September

By Aysu Bicer

ANKARA (AA) – A total of 10,603 new companies were established in Turkey in September, up 37.77% on an annual basis, the country's top trade body said on Friday.

The figure also marked a monthly rise of 13.38%, according to data released by the Turkish Union of Chambers and Commodity Exchanges.

Some 1,470 companies went out of business last month, up 18.45% year-on-year.

Over 85% of the new firms are limited companies and 13% are joint stock companies.

The top three fields of operation among new companies were wholesale and retail trade, manufacturing, and construction.

In September, 1,197 companies with foreign partners were established – 665 have Turkish partners, 63 have Iranian partners, and 36 have Syrian partners.

Foreign capital partners’ capital investments constitute 77.47% of the total capital of foreign joint venture companies, according to the report.

- January to September

In the first nine months of this year, 73,912 companies started doing business in Turkey, up 22.84% year-on-year.

Some 10,232 firms were liquidated, a rise of 11.56% from the same period last year.

The number of closed companies increased by 13.7% to reach 9,962.