“THE EU to prepare for the hubs concequenses in the business environmentwhich are expected in the 2nd quarter of 2022 “notes in a statement its president Piraeus Chamber of Crafts Vassilis Korkidison the occasion of his details Eurobarometer for small and medium enterprises.
A statement from the chamber noted that, based on the data, SMEs are not recovering as expected and uncertainty is increasing.
Specifically, the announcement states:
The spring business climate of ΜμΕ at 75.2%, he notes slight drop by 0.9%. The SME Business Climate Index presented by SMEunited is close to the PMI and shows that recovery of ΜμΕ Located at deadlock. The results of the last six months are significantly lower than expected and the uncertainty prevailed even before the crisis in Ukraine.
Discouraging economic conditions, such as the spread of Covid-19’s new O2 mutations, rapid energy prices and supply chain disruptions, were the main reasons for weaker business confidence. SMEs in the service sector have been particularly affected by new restrictions on the outbreak of the pandemic in the autumn.
Presenting the main findings of the latest SME Barometer developed by the SMEunited Study Unit, the Economic and Fiscal Policy Directorate showed that the results fall far short of expectations, especially in terms of turnover and investment. In addition, he noted that the investigation was conducted before the invasion of Ukraine began and the real situation for the current semester may be even gloomier than expected.
Indeed, already before the war, the prospects they showed high level of uncertainty for its future developments pandemic, inflationary pressures and the possible continuation of supply friction. SMEunited therefore recommends that national and European policy focus on easing the burden on SMEs and stabilizing energy and product markets so that SMEs can overcome the high uncertainty caused by the war in Ukraine and the ongoing pandemic crisis. This is a precondition for investment and reforms aimed at stimulating the green and digital transition of small and medium-sized enterprises. Finally, it is estimated that the Eurobarometer results for the next six months will continue to fall far short of the expectations of the EU small and medium-sized enterprises.
The president of EVEP Vassilis Korkidissaid about the business climate:
“A war never benefits, but the great loss of peace, which is a precondition for social and economic prosperity. Even if a diplomatic way is found to end the war in Ukraine soon, the turmoil in Europe will have medium-term economic consequences. In fact, economic wars, although less noisy, are more powerful than real ones and have a greater impact on people’s lives. Of course, the duration of the war will escalate according to the economic consequences, as uncertainty increases, international markets move at higher prices and countries go through a period of fiscal distress. In fact, a crisis of this magnitude, especially when it follows a financial crisis and even before the end of the pandemic, reinforces pre-existing weaknesses, poses obstacles to recovery and has indefinite costs for SMEs in the market. “Apart from the direct effects of the extreme price hikes in the energy and food chain, the EU needs to prepare for the key implications for the business environment that are expected in the second quarter of 2022.”
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