Home / Knowledge / News / Textiles / SMEs in Wenzhou almost on brink of disaster

SMEs in Wenzhou almost on brink of disaster

27
Oct '08
A survey was done in early July by the Director of the comprehensive economy department of Wenzhou Economic and Trade Commission from amongst 15,521 small and medium enterprises in 31 Industrial and Development Zones in the province.

The findings of the survey are startling. 1009 corporate enterprises have shut down temporarily or have suspended operations while another 250 enterprises have totally collapsed. The 1259 enterprises accounted for 8.1 percent of the surveyed enterprises.

“Wenzhou has a total number of 140,000 small and medium enterprises and 4 percent of Wenzhou businesses had collapsed last year and the rate is likely to rise to 5.9 percent this year," said one of the officials connected with the survey.

But the official was optimistic that the rate would not grow beyond 5.9 percent. He added by saying that, "In fact, it is difficult to get accurate statistics since many families in Wenzhou close one company first and open another company later, but do not write off or de-register the original company".

Fibre2fashion News Desk - China


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Oct 2020

Scottish businesses to gain from UK-Japan trade agreement

Scottish businesses, including textile firms, are set to benefit from ...

Pic: SA Company

Apparel/Garments | On 27th Oct 2020

TZP Group makes strategic investment in SA Company

TZP Group, through TZP Capital Partners III, a private equity firm...

Pic: Shutterstock

E-commerce | On 27th Oct 2020

Online shopping scams rise 37% during 2020 1st half in UK

Incidences of online shopping and auction fraud in the UK rose by 37...

Interviews View All

Frank Gossmann, Rotorcraft AG

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Textile industry, Head honchos

Textile industry
Head honchos

RCEP was always going to be a double-edged sword

Top executives, Fashion houses, India

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Arup Chakraborty,

Arup Chakraborty

Mirrorsize is a US-based start-up that provides artificial intelligence...

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search