TOBB: Number of closed companies nears 20,000 in the first 11 months of the year

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) has announced the Statistics on Newly Established and Closed Companies for November.

According to TOBB data, 19,931 companies closed in the first 11 months, with 2,417 closing in November alone.

In the first 11 months of 2023, compared to the same period in 2022, there was a 7.2 percent increase in the number of closed companies and a 44.7 percent increase in the number of closed sole proprietorships. The number of closed cooperatives decreased by 3.2 percent.

In November 2023, the number of closed companies increased by 46.7 percent and the number of closed sole proprietorships increased by 294 percent compared to the same month in 2022. The number of closed cooperatives decreased by 20.8 percent.

Compared to the previous month, the number of closed companies increased by 7.6 percent, and the number of closed sole proprietorships increased by 473.7 percent. There was a 5.9 percent decrease in the number of closed cooperatives.

ESTABLISHED COMPANIES

In November, 10,403 companies were established, while 116,019 companies were established in the first 11 months. In the first 11 months of 2023, compared to the first 11 months of 2022, the number of newly established companies decreased by 7.3 percent, the number of newly established sole proprietorships decreased by 24.9 percent, and the number of newly established cooperatives increased by 67.5 percent.

News Source: 12punto