August 22, 2023
During the first seven months of the year 2023 the number of closed Companies and the number of sole proprietorships increased by 0,1% and 23,8% while the number of closed cooperatives decreased by 3,9% according to the same period of the year 2022.
-The number of newly established companies decreased by 11,7% with respect to the same month of the previous year.
During July 2023 the number of newly established companies and the number of cooperatives increased by 11,7% and 133,1% while the number sole proprietorships decreased by 19,7% according to the month of July 2022.
During July 2023 the number of closed companies, the number of closed cooperatives and the number of closed sole proprietorships increased by 30,3% 17,1% and 86,5% respectively according to the month of July 2022.
The number of newly established Cooperatives increased by 24,2% in July 2023 with respect to previous month.
-The number of newly established companies decreased by 1,1% while the number cooperatives and the number of sole proprietorships increased by 24,2% and 1,6% according to the previous month.
The number of closed companies, the number of closed cooperatives and the number of closed sole proprietorships increased by 10,7% 25,4% and 4,8% respectively according to the previous month.
The growth rate of companies, cooperatives, and sole proprietorships in July
-In July 2023, 975 companies with foreign partners were established. 585 of these companies had Turkish partners, 54 had Iranian and 36 had Russian Federation partners.
Of the 975 foreign shareholding companies established, 104 are incorporated companies and 871 are limited liability companies. 1023 of these companies conduct wholesale trade for stores in malls that are not allocated to a specific commodity; 349 are in Construction of residential or nonresidential buildings and 348 are in real estate in 2023. Foreign capital partners’ capital investments constitute 67.1% of the total capital of foreign joint venture companies.
Source: The Union of Chambers and Commodity Exchanges of Türkiye
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
