The energy crisis squeezes the smaller companies that drive the European economy

The energy crisis squeezes the smaller companies that drive the European economy

Europe’s energy crisis is squeezing the small and medium-sized businesses that form the backbone of the continent’s economy, causing some business owners to slow production or close up shop. Katrien Vandenheuvel recently decided to close her family’s grocery store, located in a village outside of Antwerp, Belgium. —after realizing he needed to sell about 3,000 more loaves of bread each month to cover higher natural gas bills. The store had already charged higher prices for pastries and cheeses than chain stores, he says. Raising prices enough to cover expenses would have driven more customers away.