Home News More than 5,000 business failures in 2004

More than 5,000 business failures in 2004

Published on 02/09/2004

2 September 2004

BRUSSELS – In the first eight months of 2004, 5,060 businesses have failed, with the loss of 12,150 jobs, according to official figures published on Thursday.

The statistics show that last month alone, 352 businesses went to the wall.

August saw a 3.8 percent climb in the number of businesses which failed in Belgium, compared to the same month last year.

The rise in the number of failed businesses shows entrepreneurs are losing confidence.

Last year, however, more businesses with a higher number of employees ceased trading.

Whereas 14 businesses of more than 100 people went bankrupt in 2003, this year the figure was just nine.

The worst affected sectors are hotels and catering (with 11.7 percent more failures), wholesale (up by 2.6), the building trade (up by 4.5) and retail (up 2.9).

[Copyright Expatica 2004]

Subject: Belgian news