Companies face uncertainty

The year is closing with fewer registrations of new enterprises on the General Commercial Register (GEMH) compared to last year and with even fewer shutdowns than in 2019. It was a year that got off to a good start for entrepreneurship - until the pandemic struck.

In the first couple of months of 2020, before the coronavirus hit Greece, new registrations on the GEMH exceeded 4,000 per month, well above a year earlier, before crumbling as of March 2020 onward.

The fact that fewer companies closed in 2020 than compared to 2019 should not be seen as a sign of optimism. The reason is that a large number of enterprises, especially in the food service sector, are waiting to see whether they will have to close down for good next year. For the time being, they are relying on the government's support measures. After all with the public administration and justice in slow mode...