Number of newly established companies in Turkey reach 52,676 in first half
Date
7/21/2024 3:38:51 AM
(MENAFN) According to data released by Türkiye's Union of Chambers and Commodity Exchanges (TOBB) on Friday, the number of newly established companies in Türkiye for the January-June period of 2024 reached 52,676. This figure represents a notable decline of 17.3 percent compared to the same period last year, when 63,675 new companies were registered. The reduction in new business formations reflects a significant decrease in entrepreneurial activity over the past year.
During the same period, the number of companies that were liquidated amounted to 12,175, which is an increase of 2.3 percent compared to the previous year. This uptick in liquidations indicates a rise in the number of businesses that have ceased operations, possibly due to economic challenges or market conditions.
In June alone, the data shows that 6,606 new firms were established, while 1,793 companies were liquidated. These figures provide a snapshot of the business climate for that particular month, highlighting both the entry of new businesses and the exit of existing ones.
Moreover, in June 2024, there was a notable presence of international involvement in new company formations. Specifically, 493 of the newly established companies had foreign partners. Among these, 302 companies had Turkish partners, 26 had Iranian partners, and 13 had Azerbaijani partners. This international engagement underscores Türkiye's role as a hub for foreign investment and collaboration in the business sector.
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