Greece is set to conduct targeted research on the absorption of European subsidies by small and medium enterprises, identifying barriers preventing access to funding programs.
The Athens Chamber of Commerce and Industry has announced a focused investigation into the uptake of European subsidies by Greek small and medium enterprises (SMEs). This initiative aims to map out the real obstacles that prevent these businesses from accessing financial programs designed to support them. Irene Tsesmeli, President of European Affairs and External Relations at the Chamber, highlighted on OPEN TV that Greece has continuously missed opportunities for utilizing European funding directives and tools.
Tsesmeli pointed out several key issues hindering the effective absorption of these funds, such as stringent banking guarantees, strict compliance requirements (including tax and insurance clearances), opaque procedures, and regulations like the de minimis regime that exclude a significant number of businesses, despite having available funding. She emphasized the importance of the upcoming 2024 European directive aimed at subsidizing very small and individual enterprises, which has not been implemented effectively in Greece thus far.
The research aims to demonstrate the specific pain points within the system that challenge the successful integration of European subsidies into the local economy. By addressing these barriers, the Chamber hopes to improve the accessibility of financial support for SMEs, allowing them to thrive and contribute more effectively to the Greek economy.
