According to the six-month report on financial circumstances of the National Bank of Greece concerning the small and medium enterprises, their turnover, how much money they were taking in, fell by some 90.
This serious blow to the economy has led to mass dismissals of 40 percent in total of the staff and has reduced by 25 percent the average employment and deep pay cuts in the private sector.
The average annual salary dropped by 28 percent in last five years, 42 percent for the small and 17 percent for the medium enterprises, with the largest fall at eateries, some 47 percent, and the smallest in industry, at 11 percent.
According to the report, SMBs cover one-third of the corporate sector, while a largest drop of turnover occurred in the automobile sales industry, some 71 percent in the period from 2007 to 2012 while the construction sector dropped by 70 percent in the same period.
Under these circumstances, the productivity has been limited by 12 percent in the last five years, with the biggest drop in commerce by 18 percent and a small rise in industry by 3 percent mainly due to extroversion.
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