Authors: Leonidas Vatikiotis

Title: Greek Small and Medium Enterprises after the Crisis

Abstract

Leonidas Vatikiotis, Institute of Small and Medium Enterprises of GSEVEE, Efthimiou Pappa 19, Athens, 00306972826665, leonidasvatikiotis@gmail.com

In this research my focus is in the changes in Greek Small and Medium Enterprises (SMEs) during the years of the recent economic crisis. According to official data the number of the firms since 2008 to 2016 was decreased by 9.4%. In the five sectors where are mainly activated the SMEs the reduction was much higher. It reached 28.36%. Consequently, SMEs were hurt much more seriously compared to the other firms due to the increase of the taxes and energy cost, the sharp reduction of the demand, etc. During the same years the share of the firms that employ less than four persons has been contracted, in favor of those firms that employ more personnel. As a result, the micro firms exit the crisis numerically less and much more vulnerable.

Much more serious were the implications of the crisis in the sectoral balance of the Greek economy. Using the employment as a criterion the manufacture has been marginalized while sectors of services (tourism, real estate, etc.) have gained ground. The aforementioned changes mean that Greek economy after the crisis, despite the positive rates of growth, is weaker and unstable.