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Financial discipline in the private sector worked: The number of companies in the first quarter of 2019 decreased!

Financial discipline in the private sector worked:  The number of companies in the first quarter of 2019 decreased!
16 April 2019

The number of companies closed in the first two months of 2019 decreased by 11% compared to the same period of the previous year. In addition, there is an increase in the number of established companies and the flow of foreign capital.


*** This release is originally published in Turkish.
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ISTANBUL (TR) - Turkey Union of Chambers and Commodity Exchanges (TOBB) Success Audit examined the data, compared to the same period last year, the number of companies closed in January and February 2019 decreased by 11% announced that 2.757'y percent pullback. Looking at the activity areas of the companies established, the wholesale and retail sector ranked first with 7,347 new companies, second with 2.984 companies and third with 1,993 companies. In the first two months of 2019, 1,894 joint-stock companies, 13,075 limited liability companies and 167 co-operatives were established.

If The healthy conduct of concordat processes and the increasing fiscal discipline prevent bankruptcy.

Mustafa Köksoya, the founder of the success audit, stated that the measures taken during the establishment stage increased the life expectancy of the companies. Ks Although 2019 started many financial difficulties, the private sector took important steps and did not abandon the financial and administrative discipline. This is evidenced by the number of closed companies. The effect of the concordant processes, which have been successful in the reduction of the closed companies, is undeniable. Although concordat is seen as a disaster, it is actually the whole of the financial measures taken to prevent the structuring of company debts and to prevent such situations. When this process is managed well, it is prevented from closing down while ensuring companies get rid of bankruptcy Bu.

Foreign companies increased 86% in established companies!

In 2019 in Turkey with foreign capital partnerships in January and February 2248 the company was founded. While foreign investors were the most common partners in Istanbul based companies, the capital invested by foreigners in the companies established increased by 86% to exceed TL 530 million. Foreigners, with £ 70 million in the first two months of 2019 Turkey most when investing in wholesale trade, real estate sector is second with 31 million investment, the catering sector was third with 16 million.

Most of the company was established in Istanbul, Ardahan took the last place.

In the first two months of 2019, Istanbul, where 6,656 companies were founded, became the most preferred city by investors. Istanbul was founded by Ankara and 839 companies were founded. The least company was founded in Ardahan, Bayburt and Tunceli, respectively. Mustafa Köksoya said: ası The incentives given by the government should be better explained especially in Anatolia. In order to increase commercial investments, encouraging activities are vital.

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