New company launches in Türkiye jump 27.8% in 2022

ANKARA 

The number of newly established companies in Türkiye jumped 27.8% year-on-year in 2022, according to data released by the country’s top trade body on Friday.

A total of 140,229 new companies were set up last year, the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) data showed.

Among them were 20,135 foreign-partnered or foreign-funded companies, marking a significant jump from 13,445 in 2021.

Some 23,170 companies went out of business last year, a 42.8% increase from the previous year.

In December, the number of companies set up in Türkiye surged 53.8% year-on-year to 15,034.

These included 1,539 new foreign-partnered or foreign-funded companies, up from 1,186 a year earlier.

Some 4,569 companies went out of business last month, an annual increase of 20.1%, according to TOBB figures.