Number of newly established firms in Turkey increases by 29 pct

DAILY SABAH
ISTANBUL
Published

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) has announced statistics regarding companies that were opened and closed in January.

Accordingly, the number of companies established in January soared by 28.89 percent when compared to the previous month, reaching 6,210. On the other hand, the number of companies that closed in the same month increased to 1,929 with a rise of 11.31 percent.

The number of companies established declined by 9.14 percent and the number of companies closed rose by 0.73 percent when compared to the same month last year.

Also, the number of companies established in January surged by 28.89 percent when compared to the previous month. Also, the number of cooperatives and natural person commercial enterprises established in the same month fell by 2.99 percent and 1.58 percent, respectively.

The number of companies, cooperatives and natural person commercial enterprises closed in January rose by 11.31 percent, 30.67 percent, 31.14 percent, respectively, when compared to the previous month.

The number of companies established in January dropped by 9.14 percent when compared to the same month last year, while the number of cooperatives and natural person commercial enterprises founded in the same period increased by 10.17 percent and 7.81 percent, respectively. The number of companies and natural person commercial enterprises closed in this period soared by 0.73 percent and 5.64 percent, respectively in January , while the number of cooperatives closed in the same month declined by 19.01 percent when compared to January 2016.

A total of 143 out of 359 foreign joint venture companies were established by Syrians, while the remaining 24 and 22 companies were established by Iranians and Iraqis. A total of 29 out of these 359 companies are joint-stock, while the remaining 330 are limited companies.

A total of 47 of these companies were established in the wholesale trade in unspecified stores, 28 of them were constructed as residential buildings or non-residential buildings and 19 of them were founded in the real estate agencies sector.

A total of 83.59 percent of the total capital of the foreign joint venture companies constituted the common share with foreign capital.

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