Türkiye sees establishment of about 9,300 companies in August
Date
9/22/2024 4:51:56 AM
(MENAFN) According to the Union of Chambers and Commodity Exchange of Türkiye (TOBB), the country saw the establishment of 9,272 new firms in August, representing an 11.7 percent decrease compared to the same month last year. This decline reflects a broader trend, as the total number of newly established companies for the first eight months of the year reached 71,661, which is a 14.2 percent drop from the same period in 2023.
In addition to the decrease in new company formations, the data also revealed an increase in company liquidations. In August alone, 2,867 companies were dissolved, marking an 18.9 percent rise year-on-year. For the January-August period, a total of 17,944 companies were liquidated, which is a 5.9 percent increase compared to the previous year.
Amid these trends, there was also activity in the establishment of firms with foreign partners. In August, 658 new companies were set up with foreign participation, contributing to a total of 5,165 such firms established in the first eight months of the year.
These statistics highlight the ongoing challenges faced by the business environment in Türkiye, with a notable decline in new business formations coupled with an increase in liquidations. The data suggests that while some foreign investment continues, overall business activity remains under pressure.
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