BUSINESS

Closing firms outnumber new ones

By Dimitra Manifava

The first quarter of 2012 was the first during Greece?s ongoing crisis that saw more enterprises shutting down than opening, according to figures released on Tuesday by the Development Ministry?s General Secretariat for Commerce.

Data showed that 8,361 new enterprises went into business in the January-March period, while 10,315 ceased operation.

Up until the end of 2011, start-up businesses had continued to outnumber those closing down in spite of the difficult economic conditions.

The General Secretariat noted yesterday that the ?One-Stop Shop? service for establishing new enterprises has been up and running since April 4, cutting the cost for start-ups by up to 61.7 percent.

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