Fewer new companies set up in H1

Reduced access to funds combined with the fact that 2019 is an election year has resulted in the creation of fewer enterprises in the first half of 2019 compared to last year, ending the rising course recorded since 2017. On the other hand fewer businesses folded, with the figure reaching the lowest point since 2012, according to the data from the General Commercial Register (GEMH).

GEMH figures show that 18,714 enterprises were launched in January-June, against 19,911 in the same period of 2018, a decline of almost 6 percent. The number of companies that deregistered from GEMH in H1 amounted to 8,649, down 10.7 percent from 9,687 in 2018. The balance is obviously positive, with a net creation of 10,065 companies in the year to end-June.

Over a third of the new companies were personal enterprises, which means that new business ventures often have limited sustainability.

Source: ekathimerini.com