NEWS Accounting        19/02/2021

Number of companies opening in Turkey in January 2021 increased by 8.1%

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) has released its bulletin relating to establishment and closure of companies in Turkey in January 2021.

 

The number of companies newly established in January 2021 was 11,329, which is an increase of 8.1% on the figure of 10,477 recorded in the same month of the previous year, and an increase of 33.6% on that of the previous month of December 2020. Cooperatives decreased 13.2% to 99, and sole proprietorships decreased by 16.4% to 2,593 compared with the same month of the previous year.

 

In 2020, the number of newly established companies increased by 20.5% to 101,318, cooperatives increased 27.1% to 1,476, and sole proprietorships increased 26.9% to 31,036, compared to the previous year. In 2019, the number of companies newly established decreased 1.4% to 84,102, cooperatives increased 8.5% to 1,161, and sole proprietorships decreased 30.3% to 24,459 compared to the previous year. 

 

The number of companies closing in January 2021 was 952, which is a decrease of 55.1% on the figure of 2,118 recorded in the same month of the previous year, and a decrease of 69.8% on the figure for the previous month of December 2020. Cooperatives closing decreased 96.6% to 6, and sole proprietorships closing decreased by 24.2% to 2,890 compared with the same month of the previous year.

 

In 2020, the number of companies closing increased by 16.4% to 15,366, the number of cooperatives closing decreased by 31.7% to 583, and the number of sole proprietorships closing increased by 14.4% to 19,665. In 2019, the number of companies closing increased by 5% to 13,197, cooperatives decreased by 17.1% to 853, and sole proprietorships closing increased by 26.7% to 24,136 compared to the previous year.

 

Despite the coronavirus pandemic and the on-going economic recession in Turkey, there continues to be a larger increase in the number of companies and sole proprietorships established in January 2021 than the number of companies and sole proprietorships being closed down.

 

 



Turkey’s net minimum wage has been raised 21.56% to TL 2,825.90 (USD 380) as of 01.01.2021       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s official annual inflation rate increases to 19.25% in August 2021       Turkey’s official unemployment rate shoots back up to 12% in July 2021       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 83,614,362 as of 2020 yearend       Foreigners visiting Turkey in 2020 falls by 71.7% to 12.7 million       Turkey’s private sector foreign debt is USD 173.9 billion as of 2020 yearend       Turkey’s economy grew by 1.8% in 2020       Foreign Direct Investment inflow to Turkey was USD 7.7 billion in 2020