NEWS Accounting        17/04/2020

Number of companies opening in Turkey increases 26.7% in the first quarter of 2020

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) has declared in a press release on April 17th the statistics relating to establishment and closure of companies in Turkey in March 2020.

 

The number of companies newly established in March 2020 was 8,276, which is 17.3% more than the figure of 7,057 recorded in the same month of the previous year, but 9.5% less than that of the previous month of February. Cooperatives increased 58.5% to 149, and sole proprietorships increased by 46% to 2,729 compared with the same month of the previous year.

 

In the first quarter of 2020, the number of newly established companies increased by 26.7% to 27,908 compared with the same period 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 March 2020 was 763, which is 19.2% more than the figure of 640 recorded in the same month of the previous year, but 7.4% less than the figure for the previous month of February. Cooperatives closing increased 9.4% to 58, but sole proprietorships closing decreased by 11.6% to 1,445 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 previous year.

 

In light of the on-going economic crisis and despite the spreading coronavirus pandemic, the increase of 17.3% in the number of companies established compared to the same month of the previous year and the fall of 7.4% in the number of companies closing in March 2020 compared with the previous month of February 2020 were encouraging.

 



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 16.19% in March 2021       Turkey’s official unemployment rate jumps to 13.4% in February 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