Greek small and very small businesses (SMEs) face serious challenges, which are derived from a complex and unstable institutional framework, according to a research by IME GSEVEE (GSEVEE Small Business Institute).

According to the Institute, the number of legislative, regulatory and administrative liabilities have led to a high cost of compliance, negatively affecting their competitiveness, investment potential and viability.

The present study is a first attempt to record the financial burdens that small businesses are borne by their compliance with this context.

The focus is placed on the three main burden pillars: tax burdens, regulatory/administrative costs and banking/financial burdens.

In the text in particular, they are analyzed:

The cost of tax compliance, which includes both direct money (taxes, fees, contributions), as well as administrative burden (wages, external services, technological investment).

The charges resulting from a multitude of special taxes (fees, consumption taxes, etc.), which disproportionately affect the media.

Bank costs (charges, account management, DUE DILIGENCE requirements) that act as a disincentive to access to funding.

Municipal taxes, labor and insurance and other compliance costs (licensing, personal data protection, etc.) incorporate requirements that small businesses are unable to cover without external support.

The study shows that the overall institutional and economic load acts not only as an obstacle to the daily operation of small businesses, but also as a deterrent to growth, extroversion and innovation.

Regular burden, institutional uncertainty and polynomial are deprived of small businesses the crucial margin of planning and investing safely.

The main conclusion is that the survival and development of media in Greece requires a deep and targeted reform of the institutional framework. The reduction in administrative and financial burdens is not only a matter of facilitation, but a prerequisite for structural competitiveness and social cohesion.

See the study of IME GSEVEE here.