Economic Strain on German Self-Employed Intensifies

In Germany, nearly one in five self-employed individuals feel their economic survival is at risk. The lack of orders is impacting them more severely than the general economy.

The business climate for self-employed workers and micro-enterprises has been deteriorating steadily. According to the Ifo Institute, 18% of solo entrepreneurs and small business owners fear for their business future.

Large companies are cautious with orders due to economic uncertainties, exacerbating the situation. The Jimdo-Ifo business climate index has plummeted, indicating worsening conditions.

In October, it dropped to -22.0, continuing a downward trend from previous months. These developments highlight the pressing need for policy solutions to support self-employed individuals.

Economic forecasts predict Germany’s economy will shrink slightly this year, with modest growth expected in 2023. As the situation worsens, the call for political action becomes increasingly urgent, aiming to provide relief and stability for those most affected.