Around 12% of Brussels businesses are not doing well financially, according to a Graydon report published by L’Echo on Saturday. Graydon, which gathers economic information, has calculated that 6.7% of the working population in Brussels (47,000 people) is employed by a company that is struggling to make ends meet.
The main difference with Brussels is that the struggling businesses are all small ones.
“Many of these very small businesses have been created out of necessity, by people that don’t always have the skills required to manage and develop a business”, says Eric Van den Broele, the Director of studies at Graydon. “The result is that these companies go under when the first external hurdle presents itself, for example the attacks or the pavement being built in the town centre. They are just not resilient enough”.
At national level, 7.6% of businesses are struggling and they employ 7% of the working population (231,958 people).