ECONOMY

Immigrants’ enterprises on the wane

Foreign business owners in Greece are by no means immune to the economic crisis, as demonstrated by the fact that more and more immigrant-owned enterprises in this country have been shutting down in recent months.

Cypriots, Albanians and Poles are the worst affected as they closing their businesses here in greater numbers, while the number of enterprises owned by Romanians, Bulgarians and Pakistanis is showing a increase, according to data compiled by the Professional Chamber of Athens for the years 2010 to 2012.

While in 2010 the chamber’s register listed 818 new companies belonging to foreigners, in 2011 there were 764 new firms and in 2012 just 630. In 2010 the register had 597 enterprises owned by foreigners taken off it, which rose to 616 in 2011 before dropping to 587 last year.

It is believed that Albanian immigrants are returning to their country in significant numbers, as in 2012 there were only 248 new Albanian-owned enterprises, against 270 that shut down.