A total of 109,695 new companies were set up in Turkey in 2021, according to the Union of Chambers and Commodity Exchanges of Turkey (TOBB).
The figure rose 8.5% compared to 2020, the TOBB said in a report.
16,222 companies also went out of business last year, marking a 5.6% rise from 2020.
A total of 13,445 foreign-partnered or foreign-funded new companies were formed in 2021.
In December 2021, 9,774 companies started doing business in the country, up 15.3% on an annual basis.
The number of companies that went out of business in December 2021 rose 20% year-on-year to 3,803.
According to the TOBB report, 1,186 companies with overseas capital were established last month.
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