8,500 Greek Businesses to Shut Down Over Next Semester

greek-businessesDespite the positive assessment formed in February, people are now worried about the Greek economy’s future, as 3% of all Greek businesses are facing the possibility of shutting down over the next quarter. As a result, around 8,500 Greek businesses will shut down in the next semester, leading to the loss of 20,000 jobs.

This is the main conclusion of the economic research conducted by the Small Enterprises’ Institute of the Hellenic Confederation of Professionals, Craftsmen and Merchants (IME GSEVEE) regarding the second half of 2014 and expectations for the first half of 2015. However, the research also referred to SME estimates from the end of February and the country’s economic state that have led to market skepticism.

According to GSEVEE president Giorgos Kavathas, while the negative dynamics of expectations that had developed over previous years appear to be diminishing, the duration of this dire situation mainly depends on the new government’s willingness and ability to implement policies and introduce measures to boost the Greek economy, as well as entrepreneurship, investment, liquidity and employment.

The government is called to design and implement realistic solutions that will rapidly respond to current challenges small businesses are facing.


  1. This all could be, and was, predicted in advance to the last elections.
    Instead of being happy with the cautious turnaround of the economy and continuing to strengthen it, to continue reforms, downsizing bureaucracy, the electorate went for the fairytales and will end up with a rude and very bad awakening.

  2. It would be better if we turn on the “Red lights” all over the country for more revenue. This “Red light” Zone will help the economy rebound with increase in more tourists visiting the country starting by having Venizelos as a rep/ass and Samara the MD of the “Red light” Zone. This will be the success story of the year to both parties.