Over 3,700 startups launched in Turkey in one month

More than 3,700 new businesses were established in September, according to a report released by the Turkish Union of Chambers and Commodity Exchanges (TOBB) on Oct. 21.
But the number of start-ups has declined by 29.03 percent since September 2015, falling from 5,219 to 3,704, the union said.       

During the same period, 832 companies went out of business, a 21.99 percent rise compared to the decline in September 2015.      

According to the report, the number of newly established businesses in the first nine months of 2016 fell by 3.89 percent to 48,051 over the same period last year.      

The report also said 259 foreign-partnered companies were established in September, of which 119 were founded directly by Syrians or with their partnership.