The Number of Established Companies Decreased by 3.0% in November, While the Number of Closed Companies Increased by 8.9%
In November, the number of newly established companies decreased by 3.0% year-over-year, while the number of closed companies increased by 8.9%.
According to a statement by the Union of Chambers and Commodity Exchanges of Turkey (TOBB):
"The number of newly established companies in the first 11 months of 2024 decreased by 11.4% compared to the same period last year.
In the first 11 months of 2024, the number of newly established companies decreased by 11.4% compared to the first 11 months of 2023, while the number of newly established sole proprietorships decreased by 19.8% and cooperatives by 15.4%. Furthermore, the number of closed companies increased by 19.7% compared to the first 11 months of 2023, while the number of closed cooperatives rose by 3.1%, and there was a substantial decline of 48.4% in the number of closed sole proprietorships.
Compared to the same month last year, there was a decrease of 3% in the number of newly established companies.
In November 2024, the number of newly established companies decreased by 3%, the number of newly established cooperatives fell by 19.6%, and the number of newly established sole proprietorships decreased by 10.1% compared to November 2023.
In November 2024, the number of closed companies increased by 8.9% compared to the same month in 2023, while the number of closed cooperatives rose by 27.5%, and the number of closed sole proprietorships dropped by 83.9%.
In November 2024, there was an 11.4% decrease in the number of newly established cooperatives compared to the previous month.
Compared to the previous month, the number of newly established companies decreased by 6.6%, the number of newly established sole proprietorships decreased by 11%, and the number of newly established cooperatives decreased by 11.4%.
The number of closed companies increased by 7.8% compared to the previous month, while the number of closed cooperatives increased by 12.1%, with a slight decrease of 1.1% in the number of closed sole proprietorships.
General Overview for November 2024
TYPE OF ANNOUNCEMENT
TYPE OF COMPANY
NOVEMBER 2024
OCTOBER 2024
Change Compared to Previous Month (%)
NOVEMBER 2023
Change Compared to Same Month Last Year (%)
JANUARY - NOVEMBER (11 Months)
2023
2024
Change (%)
Newly Established
Company
10,092
10,808
-6.6
10,403
-3.0
116,009
102,804
-11.4
Cooperative
209
236
-11.4
260
-19.6
2,940
2,486
-15.4
Sole Proprietorship
1,430
1,606
-11.0
1,590
-10.1
17,744
14,229
-19.8
Closed
Company
2,362
2,580
-8.5
2,041
15.7
24,045
26,021
8.2
Cooperative
74
73
1.4
57
29.8
807
1,018
26.2
Sole Proprietorship
1,425
1,441
-1.1
8,869
-83.9
28,896
14,913
-48.4
In November 2024, no company was established in Bayburt.
Of the 10,301 companies and cooperatives established in November 2024, 86.2% were limited companies, 11.7% were joint stock companies, and 2% were cooperatives. 36.8% of the companies and cooperatives were established in Istanbul, 11.5% in Ankara, and 6.7% in Izmir. No company was established in Bayburt this month.
In November 2024, the total capital of the newly established companies increased by 18.3% compared to the previous month.
In 2024, a total of 105,290 companies and cooperatives were established. Among them, 90,896 limited companies constituted 64.5% of the total capital, and 11,896 joint stock companies made up 35.4%. The total capital of companies established in November increased by 18.3% compared to October.
Breakdown of Company Establishments by Type for November 2024
Company Types
Total
Joint Stock
Collective
Limited
Cooperative
SEPTEMBER 2024
Number
1,168
3
9,072
248
10,491
Capital (TL)
25,449,907,975
21,700,000
22,137,029,704
47,608,637,679
OCTOBER 2024
Number
1,320
2
1
9,485
236
11,044
Capital (TL)
11,303,209,429
1,330,000
12,000,000
23,267,481,000
34,584,020,429
NOVEMBER 2024
Number
1,210
8,882
209
10,301
Capital (TL)
18,568,331,818
22,357,714,275
40,926,046,093
TOTAL 2024
Number
11,896
11
1
90,896
2,486
105,290
Capital (TL)
107,553,474,454
26,270,000
12,000,000
195,823,517,029
303,415,261,483
In November 2024, of the established companies and cooperatives, 3,442 were in commerce, 1,520 in construction, and 1,266 in manufacturing. 565 sole proprietorships were established in the construction sector.
In November 2024, of the established companies and cooperatives, 3,442 were in commerce, 1,520 were in construction, and 1,266 were in manufacturing. Among the sole proprietorships established in November 2024, 565 were in construction, 475 involved wholesale and retail trade of motor vehicles and motorcycles, and 108 were in the manufacturing sector.
Of the companies and cooperatives that were closed this month, 938 were in wholesale and retail trade, motor vehicles and motorcycle repair, 362 in manufacturing, and 328 in construction. Among the closed sole proprietorships, 594 were in wholesale and retail trade, motor vehicles and motorcycle repair, 246 in construction, and 153 in manufacturing.
Of the 209 cooperatives established in November 2024, 147 were housing construction cooperatives.
Of the 209 cooperatives established in November 2024, 147 were housing construction cooperatives, 37 were business cooperatives, and 9 were tourism development cooperatives.
In November 2024, 599 foreign capital companies were established.
Among the 599 foreign capital companies established in November 2024, 349 were in partnership with Turkey, 26 with Iran, and 18 with Azerbaijan. Of the newly established foreign capital companies, 77 were joint stock companies, and 522 were limited companies. In 2024, 873 companies were established in wholesale trade not allocated to a specific good, 323 in the construction of residential or non-residential buildings, and 318 in business and other administrative consulting activities. Foreign capital contributed to approximately 75.9% of the total capital of newly established foreign capital companies.