DRAMATIC DECREASE IN NEWLY-ESTABLISHED COMPANIES

A total of 2,878 companies and cooperatives were established in April, according to Union of Chambers and Commodity Exchanges of Turkey (TOBB) statistics, a dramatic decrease compared to the previous month with newly-established companies, cooperatives, and sole proprietorships falling by 66.01 percent, 56.38 percent, and 67.46 percent, respectively. During the same period, the number of companies and cooperatives shuttering their doors decreased by 45.48 percent and 81.03 percent, respectively, while the number of closed sole proprietorships increased by 15.09 percent.