Turkey's Borsa Istanbul up at open
- Economy
- Anadolu Agency
- Published Date: 12:00 | 21 September 2018
- Modified Date: 12:47 | 21 September 2018
The number of newly launched companies in Turkey shot up 21.7 percent between January and August from the same period last year, the Turkish Union of Chambers and Commodity Exchanges (TOBB) said on Friday.
According to a statement from the organization, some 58,498 companies were formed in the first eight months of this year, up from 48,087 in the same period last year.
The figures showed that 7,195 companies went out of business, down 12.3 percent during the same period.
In August, 5,443 companies started doing business in Turkey, an annual decrease of 17.4 percent, according to the TOBB.
The number of companies which went out of business fell 28.9 percent from the same month a year earlier to stand at 866 companies in August.
A total of 1,180 foreign-partnered or foreign-funded new companies also launched during the month.