In a recent interview, Ioannis Bratakos, the president of the Athens Chamber of Commerce and Industry, asserted that supporting small and medium-sized enterprises (SMEs) is not merely a social policy, but an essential component for creating a robust economy. He pointed out that for an economy to thrive, both consistent businesses and citizens must have access to a fair and efficient financial system, which he believes currently lacks speed and effective targeting towards SMEs. Bratakos stressed that economic growth cannot rely solely on larger corporations, indicating the integral role SMEs play in the overall economic landscape.

Bratakos highlighted the primary challenges facing SMEs in Greece, particularly the inadequacies of banking assessment models. He stated that these models have not been sufficiently tailored to meet the needs of Greek SMEs, which often lack strong balance sheets or real estate for collateral but possess genuine market activity and growth potential. This mismatch leads to a significant barrier in securing financing for these enterprises, as banks are not equipped to evaluate the true prospects of smaller businesses effectively.

To address these issues, Bratakos called for the development of financial instruments that better cater to the realities of SMEs, advocating for more guarantees and specialized products to facilitate their growth. He underscored the necessity of creating conditions that allow small businesses to demonstrate their credibility without the burdensome requirement of providing traditional collateral. His comments reflect a growing recognition of the need for financial reforms that include SMEs in the funding conversation to enhance the resilience and sustainability of the overall economy in Greece.