Turkey: Number of newly founded firms jumps in June

By Gokhan Ergocun

ISTANBUL (AA) - Turkey saw 9,719 newly established companies in June, up 109.34% on a yearly basis.

Some 1,130 companies went out of business over the month, up 55.09%, year-on-year in June, according to a report of the Turkish Union of Chambers and Commodity Exchanges on Friday.

Meanwhile, the number of newly established firms jumped 179.12% on a monthly basis.

Over 85% of newly established firms were limited companies, while 13.5% of them joint stock companies.

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

Last month, 619 companies with foreign partners were established.

Most of them (3,516) opened their doors in Istanbul, followed by the capital Ankara (860) and the Aegean Izmir province (531).

During the month, 123 cooperatives were also launched.

- Annual comparison

The number of newly-established companies rose 9.45% year-on-year in the first half of this year, hitting 43,755.

In the first half, 5,746 firms were liquidated, up 4.23% versus the same period last year.

Some 37,773 firms were limited companies and 5,977 of them joint stock companies in the six-month period.

During the first half, 4,197 companies with foreign partners were established.