NEWS Accounting        20/03/2020

Number of companies opening in Turkey increases 36.8% in February 2020

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) has declared in a press release on March 20th the statistics relating to establishment and closure of companies in Turkey in February 2020.

 

The number of companies newly established in February 2020 was 9,155, which is 36.8% more than the figure of 6,694 recorded in the same month of the previous year, but 12.6% less than that of the previous month of January. Cooperatives increased 69.2% to 132, and sole proprietorships increased by 45.1% to 2,603 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 February 2020 was 824, which is 31.8% more than the figure of 625 recorded in the same month of the previous year, but 61.1% less than the figure for the previous month of January. Cooperatives closing increased 2.5% to 41, and sole proprietorships closing increased by 0.6% to 2,232 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, the increase of 36.8% in the number of companies established compared to the same month of the previous year and the fall of 61.1% in the number of companies closing in February 2020 compared with the previous month of January 2020 are very heartening.



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