The Number of Companies Established in November Sees Yearly Decline

According to the "Established and Closed Companies" statistics published by the Union of Chambers and Commodity Exchanges of Turkey (TOBB), the number of companies established in November 2024 decreased by 3% compared to the same month in the previous year. During this period, the number of cooperatives established fell by 19.6%, and the number of real person commercial enterprises decreased by 10.1%.

In November 2024, 36.8% of the companies and cooperatives were established in Istanbul, 11.5% in Ankara, and 6.7% in Izmir. There were no company formations in Bayburt during this month. Out of a total of 10,301 companies and cooperatives, 86.2% were limited companies, 11.7% were joint-stock companies, and 2% were cooperatives. The capital of the companies established in November increased by 18.3% compared to the previous month.

The number of closed companies and cooperatives showed an increase of 8.9% compared to the same period last year, while for cooperatives, this rate was recorded at 27.5%. The number of closed real person commercial enterprises decreased by 83.9%. In this month, 938 of the closed companies and cooperatives were in wholesale and retail trade, 362 were in manufacturing, and 328 were in the construction sector.

In 2024, a total of 105,290 companies and cooperatives were established, of which limited companies accounted for 64.5% of the total capital, while joint-stock companies represented 35.4%. Among the companies and cooperatives established in November 2024, 3,442 were in trade, 1,520 in construction, and 1,266 in manufacturing. Of the established real person commercial enterprises, 565 were in construction, 475 in wholesale and retail trade, and 108 in manufacturing.

Regarding the sectoral distribution of cooperatives, 147 of the 209 cooperatives established in November 2024 were residential building cooperatives. The others included 37 business cooperatives and 9 tourism development cooperatives. This data indicates that residential building cooperatives hold a significant share in the sector.

In the sectoral distribution of closed real person commercial enterprises this month, 594 businesses were in wholesale and retail trade, 246 in construction, and 153 in manufacturing. This situation reveals that a large portion of the closed enterprises concentrated in the trade and construction sectors.