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68,000 Small Companies Closed Since 2010

The National Confederation of Greek Commerce (ESEE) – citing a research conducted by the European Commission – announced that 68,000 small and medium-sized enterprises in Greece have gone out of business since 2010. This is more than double the 30,000 businesses that shut down over a seven-year period between 2003 and 2010.
According to ESEE, as daily Kathimerini reports, some 53,000 businesses are currently struggling to stay afloat and may close by the end of this year. Meanwhile, the number of shop vacancies around Athens, Thessaloniki and other big cities is growing despite a steep 30% drop in rental prices.
About 20% of all shops along downtown Ermou Street and in Kolonaki – two of the city’s busiest shopping districts – are vacant, according to ESEE. The same data show half of all first-floor shops and offices in Athens are also vacant. The business owners’ association in Thessaloniki estimates 21% of shops have gone out of business so far this year in this northern city.

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