The Thessaloniki Chamber of Small and Medium-Sized Industries (VETH) has reported that 2,590 enterprises in the northern port city shut down in 2017.

According to the president of the Chamber, Michalis Zorpidis, the data from the city’s general business registry show that 2,408 new businesses were created last year, while 2,590 enterprises were closed in 2017.

“As long as the balance between businesses that are closing and businesses opening remains negative, the crisis in the city’s market will continue. Unfortunately, that balance has been constantly negative since 2010, which demonstrates the magnitude of the crisis that our sector is experiencing,” said VETH President Michalis Zarpidis.

“This unfortunately leaves those in power unmoved. Through over-taxation and austerity, they have led small-and-medium-sized businesses into this predicament,” Zarpidis underlined.

Most of the business start-ups and closures involved individual enterprises, of which 1,513 registered and 2,128 shut down, followed by Private Capital Companies (IKE), with 301 new company registrations and 50 closures, and by Limited Partnership Companies, of which 287 were formed and 265 shut down.

The data for 2016 show that 2,417 businesses were created, and 2,896 closed down.