Over 84,000 New Companies Founded in Turkey in 2019
In 2019, 84.102 new companies founded in Turkey. More than 86% of the newly established enterprises were joint-stock companies, while 13.6% were joint-stock companies.
The three main areas of activity of the new enterprises were wholesale and retail trade, manufacturing, and construction.
In 2019, 12,634 new companies with foreign partners were established. Most of them, approximately 35,794, opened in Istanbul, followed by the capital Ankara with 8,673 and the Mediterranean city Antalya with 3,778.
Also, during the year, 1,161 new cooperatives were established.
At the same time, the number of newly created enterprises rose by 23.49% year-on-year in December to reach 7,849 enterprises on a yearly basis.
Within the framework of Turkey’s new strategy, it will provide various incentives and support to the business community and professional managers to support new technology companies. Minister of Industry and Technology Mustafa Varank announced Turkey’s Industry and Technology Strategy previously for 2023, a roadmap that will help the country become competitive in critical technologies and a significant player in the global league.
The strategy outlines the steps that will increase Turkey’s competitiveness, strengthen its economic and technological independence, and improve value-added production in the industry. It also covers policies to encourage and support the development of the high-tech entrepreneurial ecosystem.
Through the encouragement of business people and professional executives to support new technology companies, the number of angel investors will be more, and the utilization of mass financing will be increased.
Provisions will be established to ensure that angel investors do not limit themselves to financing, and they will also transfer experience and provide actionable advice to entrepreneurs. Thanks to their support and experience, the number of new companies founded in Turkey will increase in 2020.
If you would like to find out how to set up a business in Turkey in 8 steps you can check this article.
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