The voracious recession is swallowing one after the other small businesses and enterprises in Greece. Day in, day out. Estimated 68,000 commercial and small businesses have ceased their activity from early 2011 until April 2012. The storm of padlocks has taken epidemic dimensions and is not excepted to calmed down quickly. Dozens of stores close down a daily basis leaving hundreds of families without income. The grim reality of debt-ridden Greek trade is described in most recent surveys conducted among small business owners.

In a recent survey among small business owners, daily TO ETHNOS documented the dramatic situation in the Greek market, the unprecedented crisis that hit Greece in times of strict austerity, IMF “rescue” programs and huge state debt.

“The market has not reached yet the bottom of the crisis.”

From early 2011 until last April, 68,000 small businesses closed down being unable to meet their obligation, while visible are fears that by the end of 2012, another 67,000 companies are at risk to put the padlock at their doors.

Unable to Pay Salaries & Meet Obligations

Small businesses at risk to close down are unable to meet basic obligations for salaries, materials, rents, taxes, insurance levies and utilities. They describe the situation as “irreversible”, painting the economic crisis in most dramatic colours.

All small businesses participating in the survey, consider the first half of 2012 as the worst periodsince the beginning of the economic crisis, three years ago. The outlook is even more bleak.An ICAP research came to more or less same findings, and showed that the increase of “bad debts” increases rapidly.

“One in Four companies are unable to meet their obligations towards business loans. One in Two faces difficulties in paying employees’ salaries. 30% has unpaid rents. Three in Ten have debts to utility companies (Electricity, Water, Telephone), can hardly meet their obligations to suppliers.”

One does not have to read surveys to see what’s going on the shopping streets in Athens, Piraeus, Thessaloniki, Volos, Patras, Iraklio (Crete).