NEWS Accounting        21/02/2020

Number of companies opening in Turkey increases 26.6% in January 2020

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) has declared in a press release dated February 21st the statistics relating to establishment and closure of companies in Turkey in January 2020.

 

The number of companies newly established in January 2020 was 10,477, which is 26.6% more than the figure of 8,278 recorded in the same month of the previous year, and 33.5% more than that of the previous month of December. Cooperatives increased 28.1% to 114, and sole proprietorships increased by 0.9% to 3,100 compared with the same month of the previous year.

 

With regards the year 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 2020 was 2,118, which is 9.9% more than the figure of 1,927 recorded in the same month of the previous year, but 3.8% less than the figure for the previous month of December. Cooperatives closing increased 5.5% to 174, and sole proprietorships closing increased by 27.6% to 3,810 compared with the same month of the previous year. With regards the year 2019, the number of companies closing increased by 5% to 13,197, cooperatives closing fell by 17.1% to 853, and sole proprietorships closing increased by 0.4% to 19,044, compared to the same period of the previous year.

 

Despite the on-going economic crisis, there does not appear to be an overly disconcerting fall in the number of newly established companies or increase in the number of companies closing. An interesting development however is that the number of sole proprietorships closing has surpassed the number of sole proprietorships being established in January 2020.

 



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 18.95% in July 2021       Turkey’s official unemployment rate decreases to 13.2% in May 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