Finance

Turkey: Number of newly launched companies up in 2017

By Tuba Sahin

Turkey’s new business filings were up in 2017, an umbrella association of Turkish business community said Friday.

The number of newly launched companies in the country rose by 14.4 percent year-on-year in 2017, the Turkish Union of Chambers and Commodity Exchanges (TOBB) said in a report.

TOBB said 72,871 companies were established last year, up from 63,709 in 2016.

The report showed that 13,517 companies went out of business in 2017, marking a 22.5 percent increase compared to the previous year.

The number of newly established foreign-partnered or foreign-funded companies jumped by 49 percent to reach at 6,731 during the same period. The figure was 4,523 in 2016.

The report indicated an annual rise of 22.9-percent in the number of newly launched companies in December alone, reaching 4,818.

Also in December, a total of 717 foreign-partnered companies were established, the report added.


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