Türkiye sees establishment of around 115,460 businesses in 2024

(MENAFN) In 2024, a total of 115,460 businesses were established in Türkiye, marking a decrease of 10.2 percent compared to the previous year, according to data released by the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) on Friday. This decline in new firm establishments reflects a broader slowdown in business activity, highlighting potential challenges in the country’s economic environment.

The same report showed that the number of companies that were liquidated in 2024 reached 31,416, which represents a significant increase of 21.4 percent year-on-year. This rise in business closures suggests a growing number of companies facing difficulties in sustaining operations, likely due to various economic factors impacting the business landscape.

In 2024, Türkiye saw the establishment of 7,639 firms with foreign partners, which points to ongoing international interest in the country’s market despite the overall downturn in new business formation. This trend highlights the continued appeal of Türkiye as a location for foreign investment and partnership opportunities.

Focusing on December, there was a slight year-on-year increase in new company formations, with 12,659 businesses launched, up 1.1 percent compared to the same month in the previous year. However, the number of business liquidations in December saw a more significant rise, with 7,555 companies closed, reflecting a 26.9 percent increase from December 2023. Additionally, 578 of the newly established firms in December had foreign partners.

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