Syrians boost startups in Turkey

Syrians take lead in business start ups as they establish 32 percent of total new companies in Turkey

Photo by: Reuters
Photo by: Reuters

Updated Jul 28, 2015

Within the first four months of 2015, foreign investors led by Syrians made up 32 percent of the total newly established companies in Turkey, according to data obtained from the Union of Chambers and Commodity Exchanges of Turkey (TOBB).

According to the TOBB data, business start ups have reached 24,094 for the January-April period in Turkey.

Within the year, 1557 were noted to be established by international investors, while 88 percent of the their capital came from international partners.

Similarly, 113 business start ups were from Germany while another 97 percent was established by Iran based firms.

More than a third of the recently established businesses in Turkey operate in retail trade, wholesale or the automobile maintenance sector, followed by manufacturing which currently caters for 212 firms, shows data.

The union notes that, 6022 businesses were freshly established in April as surged by 22 percent against April last year.  Conversely, 8222 businesses were closed for business in Turkey falling by 32 percent compared to the same time last year.

TRTWorld and agencies