Turkey company formations and closures rise in September

According to statistics released by the Union of Chambers and Commodity Exchanges of Turkey, both the number of newly established companies and closed companies increased in September compared to the previous month.

New company formations rose by 3.2 percent from August, reaching a total of 9,506. During the same period, the number of closed companies increased by 4.6 percent, rising to 2,212. When compared to the same month last year, however, new company formations decreased by 2.6 percent, while closures fell by 5.3 percent.

Geographically, 38.8 percent of new companies were established in Istanbul, 11 percent in Ankara, and 5.6 percent in Izmir. Of the 9,506 new companies, 8,422 were limited companies and 1,084 were joint-stock companies. Between January and September, a total of 86,368 companies and cooperatives were established in the country.