Friday March 27, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Firms hit by slow cash flow

By Leonidas Stergiou

Thousands of Greek businesses are facing the specter of bankruptcy, unable to service bank loans and liabilities to suppliers with increasingly meager turnover and profits.

According to Hellastat, which processed the balance sheets of 52,000 enterprises between 2002 and 2011, about 50 percent of operating profits today go to pay banks and suppliers, compared to about 30 percent before 2008.

In a sample of 15,000 firms of all sizes and activities, aggregate sales fell 4.66 billion euros in 2011. Within four years, businesses lost 25 percent of turnover and 50 percent of profits.

Exempting very large businesses and organizations, the figures show that total outstanding loan liabilities fell 18 percent to 35.8 billion euros in 2011. The number of companies in debt in 2011 was 36.6 percent, 15 percent lower than in 2010.

“It is important to stress that among small and mid-sized enterprises, the rate of those with access to bank funding does not exceed 20 percent,” said Hellastat CEO Panos Michalopoulos.

ekathimerini.com , Saturday August 4, 2012 (17:53)  
Bundesbank´s Weidmann says euro zone debt in ´danger zone,´ opposes more aid for Greece
Greek future as trade hub in limbo amid Syriza split on railways
Bank deposits lost another 7.6 billion euros last month
Cosco sees rivals behind EU verdict
Clocks go forward one hour on Sunday
Clocks should be set forward by one hour at 3 a.m. on Sunday morning to read 4 a.m. as daylight saving begins. The change will mean the loss of one hour's sleep, but also an additional hour ...
New Democracy´s political council convenes to decide line opposite gov´t
The political council of the main conservative opposition New Democracy convened on Friday morning to decide on the line the party should take vis-a-vis the SYRIZA and Independent Greeks rul...
Inside News
BASKETBALL
All is well that ends well for Olympiakos
Young Ioannis Papapetrou helped Olympiakos stage an impressive last-quarter performance to beat visiting Efes Anadolu 86-75 on Thursday and bring its Euroleague losing streak to an end. The ...
BASKETBALL
Reds survive KAO Dramas scare in Piraeus
KAO Dramas gave depleted Olympiakos a scare at the Peace and Friendship Stadium on Monday, but the league leaders eventually managed to get their 20th win in 21 games. The Reds won by 10 (72...
Inside Sports
COMMENTARY
Time to get moving
More than two months have passed since the elections and the government has to stop running around in circles and adopt a program of specific reforms, with detailed calculations as to their ...
EDITORIAL
The same old story
One of those infamously bad practices that the political system has been accused of for years is being propagated by the new government today, as it is appointing party cadres and politician...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Bundesbank´s Weidmann says euro zone debt in ´danger zone,´ opposes more aid for Greece
2. Clocks go forward one hour on Sunday
3. Greek future as trade hub in limbo amid Syriza split on railways
4. New Democracy´s political council convenes to decide line opposite gov´t
5. All is well that ends well for Olympiakos
6. Greek government seeks balanced reform package
more news
Today
This Week
1. New Democracy's political council convenes to decide line opposite gov't
2. Greek future as trade hub in limbo amid Syriza split on railways
3. Clocks go forward one hour on Sunday
4. Bundesbank's Weidmann says euro zone debt in 'danger zone,' opposes more aid for Greece
5. Greece optimistic on deal with euro area next week
6. Opposition renews calls for minister to resign over legal cases
Today
This Week
1. Next Monday is D-Day for state funds
2. Total victory is unattainable
3. EU asks Greece for more reforms to speed talks on bailout
4. PM faces Merkel amid race to detail reforms
5. Some more equal than others
6. New book by ex-US diplomat delves deeper into the recesses of Greek terrorism
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.