Greece's entrepreneurial scene is undergoing a significant transformation. From small and medium-sized enterprises (SMEs) forming the backbone of the economy, to a growing wave of startups and scale-ups attracting international investment, the market is reshaping itself for 2025 and beyond. Supported by EU funding mechanisms, digitalisation, and a shift toward innovation-driven business models, Greece is positioning itself as a regional hub for entrepreneurship. This article explores current trends, government-backed initiatives, and what they mean for businesses looking to grow in Southeast Europe.
The Role of SMEs in the Economy
SMEs account for 99.9% of enterprises in Greece and employ nearly 87% of the workforce (Hellenic Statistical Authority, 2024). Traditionally concentrated in tourism, retail, and agriculture, these businesses are now increasingly adopting digital tools, e-commerce platforms, and export-oriented strategies. However, challenges remain, such as access to financing, skill shortages, and regulatory complexity, that require careful navigation.
Startups: Innovation on the Rise
The Greek startup ecosystem has gained momentum over the past decade, with Athens and Thessaloniki emerging as innovation hotspots. According to Elevate Greece, over 800 registered startups are active, particularly in fintech, healthtech, and green technologies. Venture capital investment surpassed €500 million in 2023, with several success stories scaling internationally. Government incentives, such as reduced taxation for angel investors and digital nomad visas, have also helped attract talent and capital into the country.
Scale-Ups and the Next Growth Stage
While many startups face barriers moving beyond early stages, a growing number are transitioning into scale-ups. These firms are securing larger rounds of funding, expanding abroad, and professionalising management structures. Yet scaling also brings challenges: payroll complexity, cross-border taxation, and compliance with EU labour standards. This is where professional advisory and HR support become essential.
The EU Recovery and Resilience Facility: Fueling Growth
The EU Recovery and Resilience Facility (RRF) initially allocated €30.5 billion to Greece in 2021, including €17.8 billion in grants and €12.7 billion in loans. In October 2024, Greece revised its plan, increasing the funding envelope to €36.6 billion. The updated plan emphasises green transition projects, digital transformation, and support for SMEs and startups. By early 2025, Greece had already received around €18 billion, equal to nearly 8% of GDP, providing unprecedented opportunities for businesses to access subsidies, financing, and infrastructure support.
Eurofast's Take: Supporting Growth Across All Stages
At Eurofast, we understand the unique challenges that SMEs, startups, and scale-ups face as they navigate growth. Our advisors assist companies in:
- Leveraging EU and national funding opportunities.
- Structuring payroll and HR systems for expanding teams.
- Ensuring compliance with tax, transfer pricing, and corporate regulations.
- Designing cross-border mobility solutions for investors, entrepreneurs, and employees.
We work with clients across Southeast Europe, the Middle East, and the Baltics, ensuring that businesses are not only compliant but also positioned for long-term growth.
Conclusion
Entrepreneurship in Greece is no longer defined by tradition alone—it is driven by innovation, resilience, and global ambition. With EU funding, a vibrant startup culture, and supportive reforms, the coming years will be decisive for businesses operating in the region. The key for entrepreneurs is to seize these opportunities while building the right structures to sustain growth.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
