Small and medium-sized businesses have gone through a difficult period in recent years, facing, among other things, the consequences of the economic crisis, the pandemic, but also the energy crisis brought about by the war in Ukraine. As the challenges continue, the only way for an SME to survive in these conditions is to be able to shield itself so that it not only overcomes the obstacles, but also grows and continues to be the star.

The key role of small and medium enterprises in the Greek economy

According to a survey by the consulting firm EY for 2022, the 27% of participants included her support of small and medium enterprises among the areas on which the country should focus its efforts in order to enhance its attractiveness. In fact, this issue is classified in fourth place among the top priorities, up from eighth last year. Small and medium enterprises are the backbone of our country, as they currently represent the 99.9% of the total number of enterprises, they employ 83% of the workforce and contribute 56.7% of total value added, significantly higher than the EU average of 65.2% and 53% respectively. So how can shielded a small and medium-sized business for its future, so that it is not at risk from difficult situations and obstacles that may arise in its path?

The new market tools that strengthen a business

Nowadays, a company can be flexible it gives it more opportunities to highlight advantages, solutions and products, but also to be able to overcome crises and obstacles. In addition there are areas such as green growth whom it must target in order to secure investment interest. In order to protect a small and medium-sized business and cope with the difficult market conditions, the digital transformation plays an important role. Businesses that invest in digital transformation are more likely to survive and thrive in the future. THE availability of tools and services that help SMEs grow in the digital environment is important, as it helps them to respond to new data, such as remote work, greater online sales needs, as well as the use of cloud technology and tools that optimize processes. Of course, an important role in enabling a company to successfully prepare for its future is also played by people her. This is how SMEs should invest to the employees them, but also in efforts to upgrade their skills. As mentioned in the Digital Transformation in Greece 2022-2023 report, employees must be encouraged to understand the potential of emerging technologies, before envisioning new and useful applications for them.

The importance of access to financial instruments

Access to finance is also important for SMEs, as it enables them to have the tools that will develop them and lead them down the path of innovation. THE Eurobank listens to the needs of small and medium enterprises and offers substantial and comprehensive support for their development. With the aim of facilitating the access of small and medium enterprises to financing it offers specialized financial programs for the strengthening of liquidity and the implementation of their investment plans and specialized guidance to make use of the available financing programs (InvestEU, European Development Bank, NSRF, etc.) in cooperation with European and state bodies.

In collaboration with the European Investment Fund (EIF), it is the first Greek bank to offer the new program “InvestEU SME Competitiveness” to cover the needs of businesses in working capital and for the implementation of investment plans. The program is aimed at small and medium-sized enterprises from all sectors that employ less than 250 employees, have an annual turnover of up to €50 million and/or their total annual balance sheet does not exceed €43 million. It has a total budget of 250 million and ensures preferential pricing to cover the company’s needs for working capital and investments, as the amount of the loan starts from 10,000 euros and can reach up to 1 million or more. The maximum amount of financing is determined according to the needs of the business. The program enables small and medium-sized enterprises to gain access to financing for working capital and the implementation of investment projects with the aim of enhancing their competitiveness. At the same time, Eurobank offers preferential interest rate in relation to what applies to the rest of the financing programs, as well as reduced collateral due to the guarantee of the EIF.

Financial programs are tools for a better future

Greek small and medium enterprises have the means to protect themselves in order to be an important part of the Greek economy in the years to come. Making the most of the strong development lever of available European and national resources, they can win the competitiveness bet on favorable terms and participate in the investment and development cycle of our economy.

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