The development of Entrepreneurship in Greece after the economic crisis

Entrepreneurship in Greece

Back in 2008, when the global economic crisis started, Greek companies and generally the corporate sector faced numerous difficulties. A lot of businesses closed, and the unemployment rate was significantly raised. The aim of the following paper is attempting to study the current situation of entrepreneurship in Greece, to find the problems that arose from the crisis and to acknowledge any future chance of positive development. Our results from the conduction of the two surveys have indicated that the entrepreneurs who answered our survey are facing a lot of problems in extroversion, due to the high taxation and the general market crisis. Also, only half of them had any advisory support at the beginning of their business. Similarly, their answers showed that it is more possible for them to close their business soon, as they are more pessimistic for better conditions and environment in entrepreneurship, in the near future. On the other hand, the results for the non-entrepreneurs, who answered our second survey, showed that a lot of them were in favor of making a company but they hesitate because of the taxation system, the bureaucracy and the lack of knowledge in business sector. The key to making entrepreneurship in Greece approachable is to rebuild the tax system and make it more sustainable for the businesses. Similarly, it is important to have financing support through private and public initiatives and help new innovative businesses and startups begin operations. Lastly, Greek Government must make a new proactive environment to protect all low and middle range businesses from terminating their operation.