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18-04-20
27,908 newly established companies in Turkey in Q1 of 2020
(MENAFN) According to the Turkish Union of Chambers and Commodity Exchanges (TOBB), Turkey witnessed 27,908 newly founded firms in the first quarter of 2020, up 26.09 percent yearly.
As said in TOBB report, some 3,705 firms went out of business in the first quarter, up 16.07 percent in comparison with the same quarter of 2019.
The vast majority 86.6 percent of the newly founded companies were limited companies; in 2019, 3,160 firms with foreign partners were founded.
The largest group of companies, 11,738, opened their doors in Turkey's commercial hub Istanbul, followed by the capital Ankara with 2,709, and the Aegean city of Izmir with 1,649.
MENAFN1804202000450000ID1100043905
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