7 thousand 914 companies closed in 5 months
The Union of Chambers and Commodity Exchanges of Turkey (TOBB) announced the statistics of established and closed companies for May 2023.
Thus, in May 2,079 more companies were closed and in the first 5 months of the year a total of 7,914 companies were closed.
INCREASE OF 41 PERCENT IN ONE MONTH IN THE CLOSED COMPANY
Compared with the previous month, the number of closed businesses increased by 41 percent, the number of closed cooperatives by 105.7 percent, and the number of closed individual business enterprises increased by 49.8 percent.
In May 2023, the number of closed businesses increased by 0.4 percent, the number of closed cooperatives by 33.3 percent, and the number of closed business enterprises of natural persons increased by 138.5 percent compared to the same month of 2022.
In the first 5 months of 2023, compared to the first 5 months of 2022, the number of closed businesses increased by 4.2%, the number of closed cooperatives by 4.7%, and the number of closed individual trading companies 13.6%.
THE NUMBER OF ESTABLISHED COMPANIES INCREASED 9.4 PERCENT
On the other hand, while the number of companies constituted in May compared to the previous month increased by 9.4 percent and the number of cooperatives constituted by 31 percent; The number of established individual business enterprises decreased by 12.3 percent.
In May 2023, compared to May 2022, the number of incorporated companies increased by 6.4 percent and the number of incorporated cooperatives by 150.9 percent; The number of established real-person business enterprises decreased by 12.9 percent.
In the first 5 months of 2023, compared to the first 5 months of 2022, the number of incorporated companies increased by 3.1 percent and the number of incorporated cooperatives by 69.1 percent; The number of established real-person business enterprises decreased by 8.1 percent.
ŞİNE MORE CLOSURE IN WHOLESALE AND RETAIL TRADE
According to TOBB data, in May 2023, 3,466 companies and cooperatives were established in commerce, 1,584 in construction, and 1,430 in manufacturing.
Companies and cooperatives that closed in May; 691 were engaged in wholesale and retail trade, motor vehicle and motorcycle repair, 270 in construction and 256 in manufacturing.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
