Turkey: Over 3,700 startups launched in September

ANKARA (AA) – More than 3,700 new businesses were established in September, the Turkish Union of Chambers and Commodity Exchanges (TOBB) said in a report Friday.

The number of startups declined 29.03 percent compared to September 2015, falling down to 3,704 from 5,219, the union said.

During the same period, 832 companies went out of business, a rise of 21.99 percent compared to the same month in 2015.

According to the report, the number of newly established businesses in the first nine months of 2016 fell by 3.89 percent to 48,051 over the same period last year.

The report also said that 259 foreign-partnered companies were established in September, of which 119 were founded directly by Syrians or by Syrians in partnerships.