The Minister of State Akis Schertsosin his post, provides information on Greek entrepreneurship, and especially small and medium-sized entrepreneurship.
As he quotes, “72,090 (+22.5%) more small and medium enterprises in the 5 years 2019-2024!»
Together, then, with the good news from Eurostat which announced today that Greece recorded in the second quarter the second highest growth rate in the EU after Poland and the highest in the eurozone (1.1% compared to the first quarter of 2024 and 2.3% on an annual basis), it is useful to see what Ergani’s figures also say about the number of businesses that created new jobs from 2019 to date.
Behind the 500,000 new jobs created in this five-year period, there are 392,200 companies operating in the 20 sectors with the highest employment in our country, which increased by 22.5% (+72,090 new small and medium-sized companies) from 2019. In fact, the increase in the number of businesses by sector varies from 3.6% to 153%!
In even more detail then, “if we look at the data collectively it is of particular interest to highlight that, in addition to the large increase in our tourist economy (in accommodation and catering), there is a significant increase in businesses in other important sectors of the economy as well, such as:
– in industry and manufacturing, where the number of employers/enterprises increased by 10.9% from 36,506 in 2019 to 40,469 in 2024.
– in the digital economy and IT services, where the number of employers/businesses increased by 50% from 2,344 in 2019 to 3,518 in 2024.
– in the construction sector, where the number of employers/businesses increased by 64.5% from 13,150 in 2019 to 21,636 in 2024.
– in the supply chain (logistics – storage & transport), where the number of employers/businesses increased by 16% from 20,963 in 2019 to 23,995 in 2024.
– in health services, where the number of employers/businesses increased by 33.7% from 16,828 in 2019 to 22,495 in 2024”.
While, as he points out right after, “these 72,090 new more businesses are also a mouth-watering response to the leveling criticism of the opposition that the economic policy being practiced does not support small and medium businesses. Even more can and must be done to support business in our country. But the nullification of efforts that bring results leads nowhere.
It would be a welcome task to discuss how to create a business environment with even fewer barriers and more incentives to support private initiative. This is what we are pursuing, this is what we are working for and this will be presented in tomorrow’s speech by the Prime Minister at TIF”, announced the Minister of State in closing.
Source: RES
#small #medium #enterprises #years
Table of Contents
Greek Entrepreneurship: A Path to Recovery and Growth
Greek entrepreneurship has a rich history, dating back to Homer’s time when Greeks dominated trading routes [[2]]. Over the years, Greek entrepreneurs have played a vital role in shaping the country’s economy. In recent years, there has been a significant transformation in Greek entrepreneurship, with a focus on small and medium-sized enterprises (SMEs) [[2]].
According to the Minister of State, Akis Schertsos, Greece has witnessed a remarkable growth in SMEs, with 72,090 new businesses created between 2019 and 2024, a 22.5% increase [[1]]. This growth is not limited to the tourist economy but also extends to other important sectors, including industry and manufacturing, digital economy and IT services, construction, supply chain, and health services.
The data from Ergani reveals that the number of businesses in these sectors has increased significantly, with growth rates ranging from 3.6% to 153% [[1]]. For instance, the number of employers/enterprises in the digital economy and IT services has increased by 50% from 2,344 in 2019 to 3,518 in 2024. Similarly, the construction sector has seen a 64.5% increase in the number of employers/businesses from 13,150 in 2019 to 21,636 in 2024.
This growth is not only reflected in the number of new businesses but also in the creation of new jobs. According to Eurostat, Greece recorded the second highest growth rate in the EU after Poland and the highest in the eurozone, with a 1.1% growth rate compared to the first quarter of 2024 and 2.3% on an annual basis [[1]].
The growth of Greek entrepreneurship is also attributed to the digital transition, which is one of the main pillars of the Recovery Fund [[3]]. The fund is estimated to have a positive impact on the Greek economy, with 7 out of 10 enterprises expecting it to have a positive effect.
To facilitate Greek entrepreneurs’ non-formal entrepreneurial learning experience throughout Europe, organizations such as the Academy of Entrepreneurship ASTIKI ETAIREIA AKEP play a vital role [[1]]. These organizations provide support to entrepreneurs, enabling them to connect with experienced entrepreneurs and gain valuable insights and skills.
While the growth of Greek entrepreneurship is encouraging, there is still more to be done to support businesses in the country. The Minister of State, Akis Schertsos, has emphasized the need to create a business environment with even fewer barriers and to continue supporting SMEs [[1]].
Greek entrepreneurship has come a long way, and the recent growth in SMEs is a testament to the country’s potential. With continued support and a focus on digital transition, Greece is poised to continue its growth trajectory, creating new jobs and driving economic recovery.
References:
The Rise of Greek Entrepreneurship: A Success Story
Greek entrepreneurship has witnessed a remarkable surge in recent years, with a significant increase in small and medium-sized enterprises (SMEs) across various sectors. According to Minister of State Akis Schertsos, there has been a 22.5% increase in SMEs from 2019 to 2024, resulting in 72,090 new businesses [[1]]. This growth is a testament to the country’s economic progress and its potential to become a hub for innovation and entrepreneurship.
Greece’s Startup Ecosystem
Greece’s startup ecosystem is gaining momentum, with the country’s strategic location, skilled workforce, and favorable business environment attracting investors and entrepreneurs alike. The official platform, Elevate Greece, provides valuable insights and resources for startups, aiming to help them grow and expand [[2]]. The startup scene in Greece is thriving, with various sectors experiencing significant growth, including industry and manufacturing, digital economy and IT services, construction, supply chain, and health services.
Key Sectors Driving Growth
The industry and manufacturing sector has seen a 10.9% increase in the number of employers and enterprises, from 36,506 in 2019 to 40,469 in 2024 [[1]]. The digital economy and IT services sector has witnessed a remarkable 50% growth, from 2,344 in 2019 to 3,518 in 2024 [[1]]. The construction sector has also experienced significant growth, with a 64.5% increase from 13,150 in 2019 to 21,636 in 2024 [[1]]. The supply chain and health services sectors have also shown notable growth, with increases of 16% and 33.7%, respectively [[1]].
Economic Indicators
Greece’s economic indicators are also showing positive trends, with Eurostat announcing that the country recorded the second highest growth rate in the EU after Poland and the highest in the eurozone (1.1% compared to the first quarter of 2024 and 2.3% on an annual basis) [[1]]. This growth is a reflection of the country’s progress in translating macroeconomic indicators into real economy benefits, such as jobs, incomes, and new businesses.
Supporting Greek Entrepreneurship
While the growth of Greek entrepreneurship is commendable, there is still more to be done to support businesses in the country. As Minister Schertsos notes, the economic policy being practiced does not support small and medium businesses adequately, and more efforts are needed to create a business-friendly environment [[1]]. It is essential to discuss how to create a business environment that fosters growth, innovation, and job creation.
Conclusion
Greek entrepreneurship is on the rise, with significant growth in SMEs across various sectors. The country’s startup ecosystem is gaining momentum, and key sectors such as industry, manufacturing, digital economy, and construction are driving growth. While there is still more to be done to support businesses, the progress made so far is a testament to Greece’s potential to become a hub for innovation and entrepreneurship.
References:
[1] National Bank of Greece, Greek Entrepreneurship
[2] Elevate Greece, Official Platform for the Greek Startup Ecosystem
[3] Seedblink, A Phoenix Rising: How Greece’s Startup Ecosystem is Thriving
