TOBB announces: Number of closed companies increased, no companies established in one province

A decline was observed in the number of companies established in Turkey. In November, the number of newly established companies decreased by 6.6 percent compared to the previous month, reaching 10 thousand 92. The number of closed companies was recorded as 2 thousand 631, an increase of 7.8 percent. No companies were established in Bayburt in November.

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The Union of Chambers and Commodity Exchanges of Turkey (TOBB) has announced its data for November. Accordingly, a decline was recorded in the number of newly established companies, while an increase was noted in the number of closed companies. In November, the number of newly established companies decreased by 6.6 percent compared to the previous month, reaching 10 thousand 92. The number of closed companies increased by 7.8 percent to 2 thousand 631.

NO COMPANIES ESTABLISHED IN ONE PROVINCE

It was observed that no company establishments took place in Bayburt in November.

During the period in question, 86.2 percent of the 10 thousand 301 companies and cooperatives established were limited liability companies, 11.7 percent were joint-stock companies, and 2 percent were cooperatives. 36.8 percent of the companies and cooperatives were established in Istanbul, 11.5 percent in Ankara, and 6.7 percent in Izmir.

Of the companies and cooperatives established last month, 3 thousand 442 were in the trade sector, 1 thousand 520 in construction, and 1 thousand 266 in manufacturing. Among the sole proprietorships established, 565 operate in construction, 475 in wholesale and retail trade and repair of motor vehicles and motorcycles, and 108 in manufacturing.

It was recorded that 938 of the companies and cooperatives that closed in November were in wholesale and retail trade and repair of motor vehicles and motorcycles, 362 in manufacturing, and 328 in construction.

It was determined that 594 of the closed sole proprietorships operated in wholesale and retail trade and repair of motor vehicles and motorcycles, 246 in construction, and 153 in manufacturing.

While 209 cooperatives were established in November, 147 of them operate in the field of housing construction, 37 in business management, and 9 in tourism development cooperatives.

102 THOUSAND 804 COMPANIES ESTABLISHED IN 11 MONTHS

The number of companies established in Turkey in the January-November period of this year decreased by 11.4 percent compared to the same period last year, falling to 102 thousand 804. In the same period, the number of closed companies increased by 19.7 percent to 23 thousand 861.

News Source: 12punto