9 thousand 852 companies closed in the first 6 months of the year

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

Thus, in June 1,938 more companies were closed and in the first 6 months of the year a total of 9,852 companies were closed.

Compared with the previous month, the number of closed businesses decreased 7 percent, the number of cooperatives closed 1.4 percent, and the number of individual trading companies closed 12.8 percent.

In June 2023, while the number of closed companies decreased by 29.3 percent compared to the same month in 2022, the number of closed cooperatives decreased by 38.3 percent; The number of real-person business ventures that closed increased by 29.5 percent.

In the first 6 months of 2023, compared to the first 6 months of 2022, the number of closed businesses decreased by 4.7 percent, the number of cooperatives closed by 7.9 percent, while the number of closed commercial businesses of natural persons increased by 16.2 percent.

29.6 PERCENT DECREASE IN THE NUMBER OF ESTABLISHED COMPANIES

Compared with the previous month, the number of established enterprises decreased by 6.1 percent, the number of established cooperatives by 23.3 percent, and the number of established business enterprises of natural persons decreased by 9.1 percent.

While the number of companies established in June 2023, compared to June 2022, decreased by 29.6 percent, the number of business enterprises of natural persons established decreased by 48.8 percent; The number of established cooperatives increased by 36.8 percent.

In the first 6 months of 2023, compared to the first 6 months of 2022, the number of established enterprises decreased by 3.6 percent, the number of established individual business enterprises decreased by 16 percent, while the number of established cooperatives increased by 63.1 percent.

THE AUTOMOTIVE INDUSTRY ALSO JOINS THE MOST CLOSURES

On the other hand, according to TOBB data, 634 of the companies and cooperatives that closed in June were engaged in the wholesale and retail trade and repair of motor vehicles and motorcycles. It was indicated that while 250 of them are in the manufacturing sector, 223 of them are in the construction sector.

Of the individual commercial companies that closed this month, 1,107 are dedicated to wholesale, retail and repair of motor vehicles and motorcycles, while 392 belong to the construction sector and 278 to the manufacturing sector.