By Tuba Sahin
ANKARA (AA) – The number of newly established companies in Turkey surged 30.8 percent in July compared to the same month last year, the Turkish Union of Chambers and Commodity Exchanges (TOBB) announced Friday.
The organization said some 6,797 new companies were formed in the month, compared to 5,195 businesses starting in July 2017.
July figures showed that the top three fields of operation among new companies were wholesale and retail trade, manufacturing, and construction.
According to the TOBB report, the number of companies which went out of business fell 16.3 percent from the same month a year earlier to stand at 912 companies in July.
A total of 1,242 foreign-partnered or foreign-funded new companies launched in the month.
In the first seven months of the year, 53,055 new companies started doing business in Turkey — an annual increase of almost 28 percent, according to the TOBB.
