New company launches in Turkey grew by 7.7% on an annual basis in February as a total of 9,856 companies were established, according to the country’s top trade body Friday.
Some 769 companies went out of business last month, down 6.7% year on year, according to data released by the Turkish Union of Chambers and Commodity Exchanges (TOBB).
Over 86% of the new firms were limited companies, and 13.9% were joint stock companies.
The top three fields of operation among new companies were wholesale and retail trade, manufacturing and construction.
In February, 1,081 companies with foreign partners were established.
A majority of the new companies, 4,060, opened in Istanbul, followed by 925 in the capital Ankara and 554 in the Aegean province of Izmir.
