4 thousand 377 companies closed in 3 months

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

Thus, in March 1,506 more companies were closed and in the first 3 months of the year 4,377 companies were closed.

Compared with the previous month, the number of closed businesses increased 23.2 percent and the number of cooperatives closed 17 percent, while the number of closed business enterprises of natural persons decreased 4 percent.

In March 2023, the number of businesses closed increased by 6.7 percent compared to the same month in 2022.

Compared to the first 3 months of 2023, the number of businesses closed increased by 32.8% and the number of cooperatives closed by 14.5% in the first three months of 2023.

LIMITED INCREASE IN THE NUMBER OF ESTABLISHED BUSINESSES

In March 2023, compared to March 2022, the number of established businesses increased by 1.2 percent, the number of established cooperatives by 51.5 percent, while the number of established individual business enterprises decreased by 4.8 percent.

Compared with the previous month, the number of established enterprises increased by 19.5 percent, while the number of established individual business enterprises increased by 24.9 percent and the number of established cooperatives by 24, 8 percent.

In the first 3 months of 2023, compared to the first 3 months of 2022, the number of established companies increased by 8 percent, the number of established cooperatives by 58.5 percent, while the number of commercial companies of established natural persons decreased by 3.8 percent.

MORE CLOSING IN WHOLESALE AND RETAIL TRADE

According to TOBB data, in March 2023, 3,736 companies and cooperatives were established in commerce, 1,683 in construction, and 1,618 in manufacturing.

Business companies of natural persons established in March 2023; 710 were dedicated to the repair of motor vehicles and motorcycles in the wholesale and retail trade, 708 in the construction sector and 217 in the manufacturing sector.

Companies and cooperatives that closed in March; 489 were engaged in wholesale and retail trade, repair of motor vehicles and motorcycles, 188 in manufacturing and 172 in construction.

It was reported that 752 of the closed individual business enterprises were in the wholesale and retail trade, repair of motor vehicles and motorcycles, 253 in construction and 186 in the manufacturing sector.