Almost 5,200 new companies were started in the first month of 2017, the Turkish Union of Chambers and Commodity Exchanges (TOBB) said in a report released Friday.
The number of newly established companies in January -- 5,185 -- was a decline of 9.14 percent compared to the same month last year.
Turkey's TOBB also said that 1,929 companies went out of business, an increase of 0.73 percent compared to January 2016.
Friday's report showed 359 foreign-partnered or foreign-funded new companies were established in January, down from 466 in the same month last year.
Some 450, over 30 percent, of foreign-partnered companies were founded directly by Syrian nationals or by Syrians in partnerships.
Out of the total number of foreign-funded companies in the second month of the year, 24 were Iran-backed, followed by Iraq with 22 companies.
