SMEs struggling to stay afloat

Small and medium-sized enterprises may have seen an improvement in the first half of the year, but a number of them remain in a dire situation, according to a survey released on Thursday by the Small Enterprises Institute of the Hellenic Confederation of Professionals, Craftsmen & Merchants (GSEVEE).

SMEs find themselves in a difficult position due to excessive taxation and social security contributions, and because of their lack of liquidity and overdue arrears to the private sector, the social security funds and the tax authorities.

GSEVEE's biannual survey reflecting economic sentiment among SMEs showed that despite the improved business position of about one in seven enterprises (13.8 percent), almost half (47.7 percent) recorded a decline in turnover. Among them the self-employed (58.6 percent) and companies in the commerce sector (58.8 percent) reported the...