The construction sector accounts for nearly a quarter of job losses among business owners in the first half of 2026.

More than 180 business leaders lost their jobs every day during the first six months of 2026. With 33.341 executives affected, the GSC and Altares Entrepreneur Employment Observatory reached its highest level for a first half of the year.

The term "job loss" used in this study refers to the managers of companies placed in judicial liquidation. It therefore does not necessarily correspond to the unemployment benefits that employees may receive.

SME managers more exposed

Very small businesses remain the most affected: nearly three-quarters of managers who lost their jobs headed companies with fewer than three employees. However, the decline is also affecting larger companies.

In total, 694 business leaders of companies employing at least 20 people were affected. The increase is close to 52% for companies with more than 50 employees. Difficulties are also increasing among companies with high turnover: job losses rise by 26,4% for companies with a turnover exceeding five million euros and by 47,3% for those with a turnover exceeding ten million euros.

According to the Observatory, the managers in question had been in their positions for an average of nearly ten years. This seniority reached almost 20 years in companies with more than 20 employees.

“Job loss for business leaders can affect all types of entrepreneurs. In the first half of 2026, the business leaders concerned had been in their positions for an average of nearly 10 years. This period even reaches almost 20 years for leaders of SMEs with more than 20 employees. These figures highlight a crucial reality: no business leader is immune. While leaders of young companies, often more vulnerable, are particularly exposed, those of more established businesses are also at risk. This is why it is essential to factor this risk into your planning and anticipate it by relying on appropriate protection mechanisms, such as the GSC,” comments Hervé Kermarrec, president of the GSC association.

A median age that reaches 46,8 years

The median age of affected managers continues to rise, increasing from 46 years in the first half of 2025 to 46,8 years a year later. Entrepreneurs aged 41 to 50 account for a quarter of job losses, with 8.829 people affected.

The fastest increase, however, concerns young managers aged 26 to 30, for whom the number of job losses is rising by 9,1%.

The construction industry accounts for nearly one in four job losses.

With 7.718 managers affected, the construction sector remains the most exposed. It accounts for nearly a quarter of the job losses recorded in France in the first half of 2026, despite a slight decrease of 0,2% compared to the same period in 2025.

This overall stabilization masks a more difficult situation in the finishing trades of the building sector. This sector accounts for more than half of the losses in activity, with 4.262 contractors affected and an increase of 5,3%.

Conversely, public works saw a 15,1% decrease in lost activity. The study nevertheless estimates that this market remains under pressure given the economic climate and the financial constraints facing local authorities.

In industry, 1.994 managers lost their jobs, a figure that remained virtually unchanged year-on-year (-0,1%). However, the wood and construction materials sector stands out with a 15,2% increase.

Commerce, catering and services under pressure

Retail is the second hardest-hit sector, with 6.971 managers affected, representing a 3,7% increase. The trade and repair of vehicles accounts for 1.553 job losses (+9,5%). The situation is even more dire in specialized bakeries, pastry shops, and confectioneries, where the increase reaches 51,2%.

The accommodation, food service and beverage sector recorded 5.057 job losses, an increase of 10,4%. The food service sector accounts for 80% of the cases recorded in this group, while the accommodation sector shows an increase of 31,4%.

Financial and insurance activities also saw a significant increase, estimated at 30,6%.

Business services accounted for 4.770 affected executives, a 15,2% increase year-over-year. Combined office administrative services saw a 70,3% rise, while consulting grew by 12,1%. The Observatory cites, among possible contributing factors, the transformations linked to artificial intelligence and the difficulties encountered by some companies in adapting their business model.

Personal services accounted for 1.655 job losses, an increase of 14,2%. Personal care professionals were among the hardest hit, with a 60,5% increase.

Significant differences between regions

Job losses among business owners are increasing in most regions, but at very different rates:

• Hauts-de-France: 2.543 managers concerned, up 11%. Regional industry recorded an increase of 32,8%;
• Ile-de-France : 7.860 job losses, representing almost a quarter of the national total and an increase of 5,8%. The construction sector has 1.877 affected managers, followed by retail (1.473) and business services (1.436);
• Auvergne-Rhône-Alpes: 4.076 entrepreneurs concerned (+8,6%), with an increase of 17,8% in services to individuals;
• New Aquitaine: 3.190 job losses (+9,6%). The increase slowed after a rise of 18% between the first halves of 2024 and 2025, but remains high in Gironde (+23,2%) and in Corrèze (+20,2%);
• Occitanie: 2.997 managers affected, up 6,8%;
• Burgundy-Franche-Comté: 1.082 job losses (+9,6%);
• Britain : 1.212 entrepreneurs concerned (+7,4%);
• Pays de la Loire : 1.415 job losses (+6,2%);
• Provence-Alpes-Côte d'Azur : 3.032 managers affected (+3,2%), including nearly four out of ten in Bouches-du-Rhône;
• Center-Val de Loire: 1.079 job losses (+2,5%), with a 62,1% increase among farmers;
• Great East: 2.181 managers concerned (+1,8%). The changes range from +41,4% in Haut-Rhin to -24,6% in Aube;
• Normandy: 1.249 job losses, the lowest regional increase (+0,9%), despite a 22,7% rise in Calvados.

“The mid-year barometer reflects the scale of the crisis impacting the economy: more than 33.000 business leaders lost their jobs following the liquidation of their companies, and in their wake, approximately 80.000 employees. Behind these figures lie numerous professional, financial, and family shocks. While entrepreneurial failure is now better understood and supported, it remains the responsibility of each business leader to anticipate this risk and prepare for it. A leader's return to work, whether through a new project or by joining another organization, not only provides valuable experience but also represents a potential driver for job creation,” emphasizes Thierry Millon, Director of Research at Altares.

A study limited to judicial liquidations

The Observatory's data relates to companies, excluding civil companies and associations, placed directly into judicial liquidation, by conversion from another procedure or following the resolution of a plan by a commercial court or a judicial court.

Closures and amicable dissolutions are not included. Removals of corporate officers are also excluded. Therefore, the results do not cover all business closures or situations in which a manager loses their position.