Number of Turkish startups up 8.5 pct in June: Association

The number of newly established companies in Turkey rose by 8.5 percent year-on-year to reach 5,952 in June, the Turkish Union of Chambers and Commodity Exchanges (TOBB) revealed on July 21.  

According to the union, 1,016 companies went out of business that month this year, which saw an increase of 29.3 percent compared to June 2016.

The figures also showed that out of the 462 foreign-partnered or foreign-funded new companies that launched in June, 115 were founded directly by Syrians or by them in partnerships.

In the first half of the year, 36,299 new companies started their businesses in the country, with an annual decrease of 1.3 percent, according to the TOBB. 

The figures from the union showed an 11 percent year-on-year rise in the number of companies that went out of business, reaching 5,898 from January to June.

The number of foreign-partnered or foreign-funded new companies reached 2,838 in the same period.