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Businesses closings Subject: Fwd: Forecast: 60,000 small businesses to close in 2003 >Jan. 7, 2003 >Forecast: 60,000 small businesses to close in 2003 >By YEHEZKEL LAING > >60,000 small business are expected to close in 2003, the Organization of >Independent Businessmen said in a press conference held in Tel Aviv on >Tuesday. > >According to the organization, 50,000 small businesses closed in 2001 >representing a 30 percent increase over 2001 in which 35,000 closed. The >organization called on the government to provide aid to help prevent the >expected closures. > >At the press conference, Director of the Organization of Independent >Businessmen Zev Viner presented a letter from the Ministry of Defense which >demanded that suppliers to the Ministry sign a document stating that they are >willing to accept a delay of payment for their services until April of 2003, >four months after payment was due. Viner said that many small business will be >forced to close as a result of the delay of payment from the Defense Ministry. > > >"The service providers need to pay their employees, their partners and income >tax on bills that were sent to the Defense Ministry. If the ministry delays >payment until April many will not have the means to pay," he said. >On a more positive note Viner said that he had come to an agreement with >Customs and VAT Authority Director Eitan Rov to the effect that businesses >that can prove that over 50% of their income comes from government ministries >will be allowed to delay payment of their VAT. > >Viner also presented statistics showing drastic drops in sales in all branches >of the economy. Tourist business was down 80%, furniture sales had fallen >30-40%, clothing and culture related sales were down 30% and sales of food and >and electronics were down 15-20%. > >To help the small businesses weather the recession Viner called on the >government to prevent a rise in property tax and help local authorities keep >water, gas and electricity costs down. He also called for immediate >unemployment payments for those whose businesses have failed. >Previous article Next article

us-aid Businesses closings Despair israel Half unemployed Israel cracks down foreign workers { September 5 2003 } Israel huge deficit Israel poverty getting worse 2003 report { November 23 2004 } Israel stricken by unions general strike { June 2007 } Israel strikes budget cuts Scud threat pales to daily life { February 11 2003 } Files Listed: 9

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