The crisis continues! Number of company closures increased in March

The reflections of fluctuations in the Turkish economy on the business world were clearly reflected in the March statistics announced by the Union of Chambers and Commodity Exchanges of Turkey (TOBB). While there was a loss of momentum in new ventures compared to February, an upward trend was observed in the number of companies ending their operations.

NEGATIVE PICTURE ON A MONTHLY BASIS

In March, the number of companies established across Turkey decreased by 11.2 percent compared to February. The number of newly established companies, which was 9 thousand 432 in February, fell to 8 thousand 379 in March.

During the same period, there was an increase in the number of companies shutting down. The number of closed companies, which was 1,621 in February, increased by 11.6 percent in March to 1,809. The data indicates a contraction in commercial life compared to the previous month.

WHAT IS THE SITUATION COMPARED TO LAST YEAR?

When looking at the year-on-year data, a complex picture emerges:

Number of Established Companies: It remained flat, showing no significant change compared to the same month last year.

Number of Closed Companies: A decrease of 6.4 percent was recorded compared to March of last year.

Although there is a deterioration on a monthly basis, the annual perspective shows that closures remained at a lower level compared to the same period last year.

News Source: 12punto