Ι. A downfall in turnover due to the enforcement of capital controls has been shown in 9 to 10 enterprises, according to IME GSEVEE survey, which has been carried out between 21 and 27 July 2015. According to this survey, 3 out of 10 enterprises showed a decrease by more than 70% while the decrease in turnover for enterprises as a whole has been 48% on average. A direct impact has been the shrinkage of consumption by 50% or by € 3.8 bn during this period.

Following a moderate assessment, it is estimated that Greek public funds out of this decrease lost 570 mn euros that would come from indirect taxes.

How much has the turnover of your enterprise been affected by banks’ closing down and capital controls?

It’s about the direct effects of the enforcement of capital controls during the first 2 weeks. However, it must be highlighted that taking into account the difficult situation where small enterprises already stand, the effects in the next half might be more sharp than those shown in the first 2 weeks due to the enforcement of capital controls.

ΙΙ. Small enterprises have been unprepared to face the effects of the enforcement of capital controls and banks’ closing down. More specifically, only 1 in 2 enterprises employs e-banking for its relations to customers and suppliers, while 7 out of 10 do not hold EFT/POS devices in order to make transactions  with credit, debit, and prepaid cards. In particular, and with regard to services sector, 6 in 10 enterprises do not have e-banking at their disposal, and, in trade, the relevant figure stands at 53,3%, while this figure hikes with regard to self-employed, as 7 in 10 do not have e-banking at their disposal.

The survey was carried out by the company MARC S.A., between 21 and 27 July 2015, on behalf of GSEVEE Small Enterprises’ Institute (IME GSEVEE), on a sample of 1,005 enterprises with regard to the effects of capital control on small and micro enterprises, which make up 99% of enterprises in our country.