One in two SMEs at risk of closure

One in every two small and medium-sized Greek enterprises is facing the threat of closure within 2014, while for very small businesses the risk concerns two out of three, according to a Marc survey conducted for the Hellenic Confederation of Professionals, Craftsmen and Merchants (GSEVEE) and presented on Tuesday in Thessaloniki.

Taking into account the anticipated creation of new enterprises, GSEVEE estimates that the net reduction in the number of businesses during this year will come to 27,000-30,000 out of the 65,000 that are at risk. If that estimate proves correct, some 47,000 jobs will be lost, including 30,000 salaried positions.

Although the forecast for closures is much more conservative than in previous years, this is due to the dramatic contraction the sector has already suffered rather than any prospect of recovery. Some 200,000 enterprises have ceased operating since 2009, according to moderate estimates.