TODAY’S – 460,000 store owners close down over 10 years

460,000 store owners close down over 10 yearsThe number of small businesses registered with Social Insurance for the Self-Employed (BAI-KUR) fell from 3448 million in 2004 to 2987 million in 2014.According to Social Security Institution (SGK) data, the number of store owners who have closed down their stores in the last 10 years reached 460,000 as of Nov.

2014.Photography studios, tailors, plumbers, carpenters, grocers, small cafes and shoemakers are some of the businesses that have seen the most closures over the 10-year period.

The root cause behind the closures is said to be high social security premiums and income taxes.SGK data states that 237 million out of 2987 million shopkeepers have accrued premium debt to the institution as of Nov.

2014.According to Turkish Statistics Institute (TurkStat) figures, the proportion of self-employed workers decreased from 20.

8 percent in 2009 to 18.7 percent in 2013.

On the other hand, the percentage of those who receive salaries surged from 60 percent to 64.1 percent in the same period.

Employers constituted 46 percent of all workers in 2013, well behind the proportion they represented in 2009, which was 57 percent. The remaining 12.

6 percent were unpaid family workers in 2013.667 pharmacies shut down in one yearPharmacies are also among the businesses experiencing a closure trend in recent years.

According to the Turkish Pharmacistsand#39 Union (TEB), 667 pharmacy owners stopped operating in 2014, contributing to a total sectoral shrinkage of 45 percent between 2009 and 2014.While there are currently 24,538 pharmacies across the country, 4,500 of which face the risk of closure according to a local chamber of pharmacists.

SOURCE: Today’s Zaman