More and more German SMEs fear for their existence due to energy crisis

Rising energy costs are threatening many medium-sized companies in Germany, according to survey

BERLIN (AA) – Majority of German small and medium-sized enterprises (SMEs) are battling to survive amid an energy crisis, a new survey revealed on Wednesday.

Some 52% of the companies said the price explosion on the energy markets was endangering their existence, according to a survey conducted by the German Association for Small and Medium-sized Businesses (BVMW) this week. More than 1,100 companies took part in the survey.

In a similar survey in August, the figure was 42%, Redaktionsnetzwerk Deutschland media group reported.

Markus Jerger, chairman of BVMW, has called on the government to take an urgent action.

He proposed an emergency fund for small- and medium-sized businesses in the amount of €15 billion ($14.37 billion).

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