Greek SMEs sector shrinking, Commission report

The number of small- and medium-sized enterprises in Greece is expected to decline by 3.3 pct this year, while their workforce is expected to fall by 2.8 pct in 2011, a report published by the European Commission said on Tuesday.

    The Commission report also expects that added value from the operation of SMEs in the country will decline by 3.9 pct. The report showed that employment in small- and medium-sized enterprises fell 5.0 pct in the 2008-2010 period, while added value was down 3.8 pct over the same period.

    The EU’s executive arm said that SMEs account for 99.9 pct of total enterprises in Greece, contributing 71.7 pct of added value and accounted for 85.6 pct of employment in the private sector.

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