Number of Newly Established Companies Decreased by 2.8% in October, While Number of Closed Companies Increased by 8.6%

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Number of Newly Established Companies Decreased by 2.8% in October, While Number of Closed Companies Increased by 8.6%

According to data released by the Union of Chambers and Commodity Exchanges of Turkey, the number of newly established companies increased by 5.5% month-on-month in October, while it decreased by 2.8% year-on-year. The number of companies that closed in the same month increased by 13.2% month-on-month and 8.6% year-on-year.

The statement noted: "The number of newly established companies in the first 10 months of 2024 decreased by 12.2% compared to the same period last year. In the first 10 months of 2024, the number of newly established companies decreased by 12.2%, the number of newly established sole proprietorships decreased by 20.8%, and the number of cooperatives decreased by 15%.

In the first 10 months of 2024, the number of closed companies increased by 21.2%, and the number of closed cooperatives increased by 0.3%, while the number of closed sole proprietorships decreased by 32.7%.

There was a 2.8% decrease in the number of newly established companies compared to the same month last year. In October 2024, compared to October 2023, the number of newly established companies decreased by 2.8%, the number of newly established cooperatives decreased by 26.3%, while the number of newly established sole proprietorships increased by 10.1%.

In October 2024, the number of closed companies increased by 8.6% compared to the same month in 2023, while the number of closed cooperatives increased by 7.1%, and the number of closed sole proprietorships decreased by 6.8%.

In October 2024, there was a 5.5% increase in the number of newly established companies compared to the previous month. The number of newly established companies increased by 5.5%, while the number of newly established sole proprietorships decreased by 7.2% and the number of newly established cooperatives decreased by 4.8%.

Compared to the previous month, the number of closed companies increased by 13.2%, the number of closed cooperatives increased by 40%, and the number of closed sole proprietorships increased by 35.9%.