diff --git a/industry_cmd.c b/industry_cmd.c
index 88a8d605d4..865d0e02d0 100644
--- a/industry_cmd.c
+++ b/industry_cmd.c
@@ -1860,7 +1860,7 @@ void IndustryMonthlyLoop(void)
 	/* 3% chance that we start a new industry */
 	if (CHANCE16(3, 100)) {
 		MaybeNewIndustry(Random());
-	} else if (!_patches.smooth_economy) {
+	} else if (!_patches.smooth_economy && _total_industries > 0) {
 		i = GetIndustry(RandomRange(_total_industries));
 		MaybeCloseIndustry(i);
 	}