The Union of Chambers and Commodity Exchanges of Turkey (TOBB) announced the statistics of companies established and closed for March.
The number of companies established in March increased by 19.5 percent compared to February, increasing from 9 thousand 473 to 11 thousand 319. In the same period, the number of companies closing down increased by 23.2 percent to 1451. In February, 1178 companies were closed.
Compared to the same month of the previous year, the number of companies established in March increased by 1.2 percent and the number of companies closed by 6.7 percent.
Compared to the previous month, the number of companies established in March increased by 19.5 percent, the number of cooperatives increased by 24.8 percent and the number of real person commercial enterprises increased by 24.9 percent.
In the same period, the number of closed companies increased by 23.2 percent, the number of cooperatives increased by 17 percent, while the number of real person commercial enterprises decreased by 4 percent.
Compared to the same month of the previous year, the number of companies established in March increased by 1.2 percent, the number of cooperatives increased by 51.5%, while the number of real person commercial enterprises decreased by 4.8 percent.
In this period, the number of closed companies increased by 6.7 percent, the number of cooperatives decreased by 14.1 percent and the number of closed real person commercial enterprises decreased by 21 percent.
No company was established in Tunceli
Of the 11,581 companies and cooperatives established in the month in question, 85.6 percent were limited liability companies, 12.1 percent were joint stock companies, and 2.3 percent were cooperatives. 38.6 percent of companies and cooperatives were established in Istanbul, 10.7 percent in Ankara and 6.3 percent in Izmir. Company establishment did not take place in Tunceli in March.
Of the companies and cooperatives established last month, 3,736 were involved in trade, 1683 in construction and 1618 in manufacturing. Of the established real person commercial enterprises, 710 started to operate in wholesale and retail trade, repair of motor vehicles and motorcycles, 708 in construction and 217 in manufacturing sector.
Of the companies and cooperatives that were closed in March, 489 were registered in wholesale and retail trade, repair of motor vehicles and motorcycles, 188 in manufacturing and 172 in construction.
It was determined that 752 of the closed real person commercial enterprises were active in wholesale and retail trade, repair of motor vehicles and motorcycles, 253 in construction and 186 in manufacturing sector.
While 262 cooperatives were established in March, 171 of them started as housing, 39 as business and 23 as agricultural development cooperatives.
Companies with foreign joint capital
Of the 1,254 foreign joint venture companies established last month, 93 were Russian and 78 Iranian partners.
139 of the foreign joint-capital companies that have started to work are in the status of joint stock companies and 1115 of them are limited liability companies. 541 of the companies established this year were established in the wholesale trade in non-specialized stores, 187 in real estate agencies, 176 in the construction activities of residential or non-residential buildings.
79.1 percent of the total capital of companies with foreign joint ventures established with foreign capital constituted the share of foreign capital.
