Half of German medium-sized businesses want to shut down or move abroad as confidence crisis grows

Company directors are concerned about rising taxes, greater bureaucracy, and a shortage of skilled workers.

Almost one in two German medium-sized businesses are considering closure or moving abroad, citing too much red tape and higher taxes.

The damning indictment of Germany’s business climate was revealed in a survey conducted by the Federal Association of Medium-Sized Businesses (BVMW).

According to the poll, 26 percent of all medium-sized company directors across Europe’s powerhouse have considered shutting down their business, while 22 percent have expressed interest in moving their operations abroad.

Directors cited a constant stream of new regulations hindering their ability to operate in Germany and a hefty tax burden, as the two main reasons for their dissatisfaction.

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