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Greek Business Closures: 2014-2023
Analysis of Greek business closures from 2014-2023, revealing high numbers, sector impacts, and bankruptcy rates.
Greek
Greece
EconomyLabour MarketGreeceBusinessBankruptcyClosures
Γενικό Εμπορικό Μητρώο (Gemh)Ελληνική Στατιστική Αρχή (Ελστατ)
- How many businesses closed in Greece between 2014 and 2023?
- Over 233,000 businesses closed in Greece during 2014-2023, with over half being sole proprietorships. The closure rate was particularly high after the pandemic, even though businesses using pandemic relief measures couldn't legally close.
- Which sectors experienced the highest number of business closures?
- The most common type of business closure was in retail (39,486) and the accommodation and food services sector (35,500). Manufacturing closures numbered 12,292.
- What were the main reasons for business closures in Greece during this period?
- While many closures were due to natural causes (e.g., retirement), a significant portion stemmed from debt accumulation. However, bankruptcy filings were rare, leaving many employees unpaid.
- What is the overall balance of business openings and closures during this decade?
- Despite the high number of business closures, a positive balance was maintained with more than 449,054 businesses opening during the same period (2014-2023), indicating business dynamism despite economic difficulties.
- How many bankruptcies were declared in Greece in 2023, and what does this number indicate in relation to business closures?
- In 2023, only 13 bankruptcies were declared, compared to 1,057 during the entire decade, showcasing a low bankruptcy rate despite numerous business closures.