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Entrepreneurship being led by the young

The number of new companies set up in May and June showed significant growth, especially those set up by young people

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26 Aug 2011

The number of new companies set up in May and June showed significant growth, especially those set up by young people. This is partly thanks to the creation of the one-stop-shop agency that has facilitated the foundation of enterprises, and to the increase in unemployment, as many jobless people turned to entrepreneurship.

Regional Development Ministry data released on Monday showed that in the first six months of the year there were 28,603 new companies set up, against 25,391 firms that closed down a surplus of 3,212 companies. In the first four months of the year the surplus stood at a mere 782 enterprises, while in the first two months there were more companies closing down than opening.

The one-stop-shop offices across the country reported the creation of 777 companies from April 4 to end-May. June was the month with the greatest surplus. 4,921 new companies set up against 3,288 enterprises closing down constituting a surplus of 1,633 firms, evidence of an improvement in entrepreneurship. Data also showed that a significant number of companies have been created by young people who had lost their previous jobs.

Source: Kathimerini

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