TRNC Chamber of Tradesmen: Not 10,000 but 3,035 businesses opened in three years

The Turkish Cypriot Chamber of Tradesmen and Artisans (KTEZO) has challenged the statement by TRNC Minister of Labour and Social Security Oğuzhan Hasipoğlu that around 10,000 businesses opened in Northern Cyprus over the past three years. According to the chamber, 3,035 new businesses were registered in the tradesmen and artisans category during that period.

Even if unregistered businesses are taken into account, KTEZO estimates that the total would not exceed 3,500. The chamber suggests that the minister may have counted businesses that closed during the pandemic and later resumed operations as new ones.

KTEZO broadly agreed with the minister’s figure of 2,700 business closures. However, according to the chamber’s own records, more businesses have closed than opened. The chamber stresses that around 3,000 openings against 2,700 closures is in itself cause for concern, not a reason to talk about growth.

KTEZO also drew attention to the quality of new businesses: the number of manufacturing businesses that create added value is declining fastest. In 2026, just 3 metalworking workshops, 1 metal-structures workshop, and 7 businesses each making aluminium structures and furniture opened in the TRNC.

The chamber cited inflation and the high cost of living, a growing number of residents travelling to the Republic of Cyprus to shop, and contractions in the construction and tourism sectors among the reasons for the downturn. KTEZO called the government’s 40,000-lira support programme “pre-election populism”.