New company launches up in March

The number of newly established companies in Turkey rose 13.6% in March from the previous month, according to data released by the Union of Chambers and Commodity Exchanges of Turkiye (TOBB).

Some 11,188 companies were launched in March, up from 9,848 in February, the TOBB said.

Among them were almost 1,742 foreign-partnered or foreign-funded companies.

During the month, 1,360 firms also went out of business, up 75.9% from February, which saw the closing of total of 773 companies.

On an annual basis, the number of companies established in March climbed 2.8%, while the figure for liquidated ones jumped 39.8%.

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