Europeans are Closing Shops, squeezed by the Economic Crisis

For two years, businesses received significant government support because of the pandemic, but now rising energy and debt service costs, along with general inflationary pressures, are putting the recovery of small and medium-sized businesses at risk, EURACTIV writes.

Business bankruptcies, especially SMEs, increased steadily in 2022 and are expected to continue in 2023 across the EU, "due to a weaker economic outlook with high inflation and energy prices, as well as monetary tightening policy and a reduction in government support," according to debt collector Atradius Collections.

Business bankruptcies have risen by 69% in France over the past year, the first time in more than 25 years, consulting firm Altares Dun & Bradstreet found earlier this month.

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