Soaring energy prices pose a threat to 881,264 small enterprises employing 3.529 million people in Italy, the Confartigianato business association said on Thursday.
The association representing artisans and small artisan businesses said it had analysed the impact of the “crazy” rise in gas and electricity prices on 43 sectors.
Confartigianato President Marco Granelli said there was the risk of a “massacre” of businesses.
The region worst at risk is Lombardy, with 139,000 enterprises employing 751,000 people in peril.
This news comes amid reports from Italy's Coop group that as many as a third of Italians may be unable to pay their utility bills by Christmas because of these same soaring energy prices.
The report said 57 per cent of the people surveyed said they were having trouble paying the rent, with 26 per cent considering delaying or stopping payments.
It said 68 per cent of Italians have embarked on a ‘spending review’ and another 17 per cent plan to assess their spending in the autumn.
It also reported that many citizens had already started a sort of self-imposed austerity, both for major expenditures such as for a car or a new home, and for everyday spending.
