In 2022, Greece saw one of the lowest rates of business closures across the European Union, with only 3.1% of enterprises ceasing operations, well below the EU average of 8.7%.
This trend comes as the EU reported overall growth in business activity, with more companies opening than closing in most member states.
Data published by Eurostat shows that, across the EU, over 32 million enterprises were active in 2022. Approximately 3.4 million new businesses were launched, marking a 10.5% birth rate, compared to 2.8 million closures, resulting in an 8.7% death rate. This growth in enterprise numbers underscores a generally favourable environment for business creation across the bloc, although some countries faced higher closure rates than openings.
While Greece had one of the lowest business death rates in the EU, certain other countries experienced the opposite trend. Estonia, Bulgaria, and Ireland reported the highest rates of business closures, with Estonia’s rate reaching 25.1%. These numbers contrast with Greece, as well as Belgium (5.2%) and Cyprus (5.8%), where enterprises remained more stable.
The highest rates of new business formation were observed in Lithuania (18.3%), Portugal (16.7%), and Estonia (16.6%). On the other end, Austria, Denmark, and Italy registered the lowest birth rates, with Austria’s rate at just 6.2%.
Read more: Eurostat reports
(Source: Eurostat)