It seems that the financial uncertainty caused by Russia’s invasion of Ukraine, and mainly the intensity of the inflationary pressure that followed, “frozen” investment plans. At least that’s what her data suggests. Greek Statistical Office to establish new enterprises, which were lower in the second quarter of 2022 both compared to the corresponding quarter of 2021, when business activity was partially locked down due to the coronavirus, and compared to the first quarter of 2022, most of which took place before the outbreak of hostilities (i.e. the Russian invasion took place on February 24, 2022). In fact, one of the sectors that has recorded a significant decline in the number of new businesses is trade, which is directly related to a reduction in consumption as a result of a decrease in disposable income. On the other hand, the expected “explosion” in tourism resulted in an increase in new accommodation and catering facilities by 12.1% compared to the first quarter of 2022 and by 21.9% compared to the second quarter of 2021.

According to data released yesterday by ELSTAT, the number of new business registrations (start-ups) for all sectors of the economy in the second quarter of 2022 amounted to 25,341, which is 3.9% less than in the second quarter of 2021. to 26,370. Compared to the first quarter of 2022, new business openings recorded a decrease of 7.2%, as the number reached 27,301 between January and March 2022.

In the sectors of economic activity with the largest contribution to the total turnover, according to the Statistical Register of Enterprises for the reporting year 2019, the largest increase in the number of new business registrations in the second quarter of 2022 compared to the second quarter of 2021 was recorded in the Transport and Storage sector (36, 3%) and in the sector “Financial and insurance activities” (22.5%), while the corresponding largest decrease was recorded in the sector “Supply of electricity, natural gas, steam and air conditioning” (15.2%) and in the sector “Wholesale and retail trade, car and motorcycle repair” (13.7%).

Business start-ups fell 3.9% year-on-year in the second quarter.

66.6% of new businesses in the second quarter of 2022 were sole proprietors, 11.1% private, 1.8% capital enterprises and 20.5% other legal forms.

ELSTAT did not announce the number of bankruptcies for the second quarter due to confidentiality concerns as it talks about protecting the identity of businesses as there were very few bankruptcies.