A total of 12,443 new companies were set up in October, the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) data showed.

The figure marked a monthly decline of 4.5%.

Among them were 1,651 foreign-partnered or foreign-funded companies, an increase of 31% year-on-year.

Some 1,706 companies went out of business last month, an annual jump of 13.8%.

In the January-October period, the number of companies set up in Türkiye surged 24.9% from a year earlier to 112,026.

Some 16,953 companies went out of business in the year’s first 10 months, an increase of 55.9% year-on-year.

In the 10-month period, 16,775 new foreign-partnered or foreign-funded companies were launched, TOBB data showed.

Source: Anadolu Agency