1646 companies closed in the first month of the year

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) announced the statistics of established and closed companies for January 2023.

Thus, in the first month of the year, 1,646 companies were closed.

In January 2023, the number of closed businesses increased by 52.6 percent, the number of closed cooperatives increased by 29 percent, and the number of closed individual business businesses increased by 11 percent compared to the same month of 2022.

Compared with the previous month, the number of closed businesses decreased by 65.7 percent, the number of cooperatives closed by 75.2 percent, and the number of individual trading companies closed by 14.5 percent.

DECREASE IN THE NUMBER OF ESTABLISHED COMPANIES

While the number of established companies decreased on a monthly basis, it increased on a yearly basis.

Consequently, the number of enterprises established in January compared to the previous month decreased by 5.3 percent, the number of cooperatives established by 3.5 percent, and the number of business enterprises of natural persons established decreased by 29.7 percent.

In January 2023, the number of established enterprises increased by 24.9 percent, the number of established cooperatives by 76.2 percent, and the number of established individual business enterprises increased by 8.4 percent in comparison with January 2022.

THE MOST CLOSURE IS AGAIN IN THE RETAIL TRADE

According to TOBB data, in January 2023, 4,835 companies and cooperatives were established in commerce, 2,227 in manufacturing, and 1,890 in construction.

Business companies of natural persons established in January 2023; 990 were dedicated to the repair of motor vehicles and motorcycles in the wholesale and retail trade, 602 in the construction sector and 252 in the manufacturing sector.

Companies and cooperatives that closed this month; 534 were engaged in wholesale and retail trade, repair of motor vehicles and motorcycles, 236 in construction and 235 in manufacturing.