Posted by meb at December 23rd, 2008

Turkey’s economic activity has stagnated amid the global crisis, a set of recent figures have shown, with the number of new companies seeing a significant drop over last year.

The monthly statistics on established and liquidated companies for November, released yesterday by the Turkish Statistics Institute (TurkStat), revealed that the slowdown is deepening and becoming more serious. According to the figures, the number of companies established in November dropped by 37 percent over the same month a year ago. In November 2007, Turkish entrepreneurs established 4,904 companies while during the same month this year, only 3,088 new companies opened their doors. Of the newly established companies, 1,149 were in İstanbul, 366 in Ankara and 181 in İzmir. The remaining 1,392 started up in the other 78 provinces. The number of companies that closed down and liquidated, however, also decreased in November compared with the previous year. The number of stores that closed decreased by 6.3 percent; while 1,880 companies shut their doors in November, 2,007 companies vanished a year ago.
source: Today’s Zaman

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