Thou­sands of en­ter­prises forced to shut down by tax, so­cial se­cu­rity hikes

Kathimerini English - - Front Page -

19,000 en­ter­prises have shut down in Greece since the start of the year, while the num­ber of new ones in 2016 comes to just 16,478, ac­cord­ing to the Gen­eral Com­mer­cial Reg­is­ter (GEMI). This means that the year to date is show­ing a deficit of 2,578 en­ter­prises. The higher taxes and the in­creases in the so­cial se­cu­rity con­tri­bu­tions that com­pa­nies must pay for their em­ploy­ees don’t just push en­ter­prises to­ward clo­sure; they also con­sti­tute se­ri­ous coun­ter­in­cen­tives for peo­ple to set up new ones. This goes a long way to­ward ex­plain­ing why 2,865 fewer en­ter­prises opened this year than dur­ing the same pe­riod in 2015, as the GEMI data show.

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