New company launches shoot up in September in Turkey

Turkey saw a nearly 22% annual rise in the number of newly established companies in September, the Turkish Union of Chambers and Commodity Exchanges (TOBB) announced on Friday.

A total of 7,696 companies was founded last month, up from 6,328 in September 2018, the organization said in a statement.

Meanwhile, some 1,165 companies went out of business, rising 5% during the same period.

The number of newly established foreign-partnered or foreign-funded companies slipped 15% to reach 1,143 in September.

In the first nine months of this year, some 60,170 companies were formed, falling 7% year-on-year.