EN

SBA Fact Sheet

GREECE

09

The Small Business Act (SBA) is the EU flagship SME policy initiative comprising ten principles which should guide the conception and implementation of policies in the European Union and its Member States. These principles are central to the development of the fact sheets. The first section pictures the importance and structure of SMEs in the country. Sections 2 and 3 analyse, for each of the SBA principles, the position of the country in comparison with the EU average, while section 4 gives an overview of policy developments following the same principles and section 5 presents an example of good practice. The country Fact Sheets contribute to the monitoring of the implementation of the SBA at national level. However, the SBA Fact Sheets are not standalone instruments. They do not constitute a comprehensive assessment of Member States policies and should be regarded as a supplement to, and not a substitute for, available national publications. Please refer to the methodological note before reading this SBA Fact Sheet. Information on the performance of all countries covered by this project, as well as all individual country fact sheets, can be found at: http://ec.europa.eu/enterprise/policies/sme/facts-figures-analysis/performance-review/index_en.htm

1. SMEs in Greece basic figures

Enterprises Greece Number Micro Small Medium-sized SMEs Large Total 820 021 25 789 3 579 849 389 431 849 820 Share 96.5 % 3.0 % 0.4 % 99.9 % 0.1 % 100.0 % EU-27 Share 91.8 % 6.9 % 1.1 % 99.8 % 0.2 % 100.0 % Employment Greece Number 1 538 632 459 784 312 489 2 310 905 343 810 2 654 715 Share 58.0 % 17.3 % 11.8 % 87.0 % 13.0 % 100.0 % EU-27 Share 29.7 % 20.7 % 17.0 % 67.4 % 32.6 % 100.0 % Value added Greece Billion 28 16 14 58 22 79 Share 35.1 % 20.5 % 17.1 % 72.6 % 27.4 % 100.0 % EU-27 Share 21.0 % 18.9 % 18.0 % 57.9 % 42.1 % 100.0 %

Data refer to the non-financial business economy (NACE C-I, K) and represent estimates for 2008. The estimates have been developed by EIM Business and Policy Research, based on 2006 Eurostat Structural Business Statistics figures. Source: Eurostat, elaborated by EIM.

The SME1 sector in Greece has a small-scale structure. The percentage of micro enterprises is higher than the European average.

Greek micro firms employ more people (58 %) than the European average micro enterprise (30 %). As a consequence the contribution of all SMEs to employment (87 %) is in Greece higher than in the EU (67 %). Moreover, the SMEs contribution to the value added also exceeds the EU average (73 % vs 58 % respectively)

The figures in the table, which cover data on both on the national level and for the EU 27 member states, have been derived from Eurostat SBS 2006 data following an estimation and now-casting methodology developed by EIM Business and Policy Research. For more details, please see the methodological note accompanying the fact sheet. The advantage of using Eurostat data is that the statistics from different countries have been harmonized and are comparable across countries. The disadvantage is that for some countries these data are different from data published by national authorities.

Number of SMEs, index 2002 = 100

120

110

100

90 2002 2003 2004 Greece 2005 EU-27 2006 2007 estimate 2008 estimate

From 2002 to 2008, the number of SMEs has grown with 8 %, which is less than the average EU-growth (13 %). The net growth in the number of companies occurred particularly in the group of small and medium-sized enterprises. Employement in SMEs, index 2002 = 100
120

110

100

90 2002 2003 2004 Greece 2005 EU-27 2006 2007 estimate 2008 estimate

In the period 2002-2008 employment in Greek SMEs increased by 15 %, which is above the EU-average of 12 %. In general employment grew in small and medium-sized enterprises and decreased in large enterprises. The most significant increase was recorded in 2006. Value added created by SMEs, index 2002 = 100
140 130 120 110 100 90 2002 2003 2004 Greece 2005 EU-27 2006 2007 estimate 2008 estimate

Value added by SMEs was fluctuating with an overall increase of 37 %, which is above the EU average growth of 28 %.

SBA Fact Sheet Greece 2009

2. The Greek SBA profile

This section presents the different principles of the SBA, comparing the figures for Greece with the EU-27 average. The analysis distinguishes between two types of indicators: those that have been used to calculate a score for each of the SBA principles, and in addition a few indicators that provide interesting information but which do not cover enough countries to be included in that calculation. As displayed in the chart, an average for Greece is available for the following SBA principles: Responsive administration, Finance, Single market, Skills and innovation, and Internationalisation. On a par with the EU-27 average are the areas Responsive administration and Skills and innovation. Below the EU-27 average are the comparable figures in the areas Single market and Internationalisation. The area Finance scores significantly below the EU-27 average. Please see the annex for a brief methodological description.

EU-27 Greece Entrepreneurship 1.00 0.80 0.60 0.40 Environment 0.20 0.00 Think small first Second chance

Internationalisation

the EU on average. On a par with the EU average is the degree to which the school education helped to develop an entrepreneurial attitude, while the ratio of opportunity to necessity entrepreneurship trails the EU mean value (2 in Greece versus 6 in the EU).

II.

Second chance

Skills and innovation

Responsive administration

Single market Finance

Public procurement and state aid

The three indicators that are available for this SBA area do not form a consistent picture. While the degree of support for allowing for a second chance is above the EU average (89 % vs 80 %), the cost to close (9 %) and the number of years it takes to close a business (2 years) are on a par with the EU averages of 11 % and 2.1 years.

III. Think small first

No consistent conclusion can be drawn from the few indicators that exist for this SBA area. Greece performs better than the EU on two out of the three available indicators: the share of support among SMEs for current regulations (41 % vs 34 %) and time required to comply with administrative obligations (4 % vs 7 % of the total SME working time). At the same time the score for the share of SMEs having problems with administrative regulations is on a par with the EU average.

I.

Entrepreneurship

It has not been possible to calculate an average for Greece for this SBA principle. The existing indicators do not form a consistent picture. Three out of eight main indicators significantly exceed the EU average, ranking Greece as the top performer. These include desire to become self-employed (47 % of the population in Greece versus 31 % in the EU), the total entrepreneurial activity index (9.9 % of the adult population starting or running businesses not older than 3.5 years) and the future entrepreneur index (17 % of Greek adult population planning to start a business during the next 3 years vs 10 % in Europe). These performances are supported by a significantly above-average performance of business ownership rate. As long as exceeding EU averages is concerned, entrepreneursip rate in Greece achieves 33 % vs 24 % in

IV. Responsive administration

Overall the available figures for this SBA principle position Greece on a par with the EU-27 average. Four out of seven main indicators show an average performance. These include the number of days for starting a business2 (19), the two indices measuring difficulties of hiring and firing and the number of days for registering property (22 in Greece vs 61 in the EU).

In Greece it takes 19 days to start a business whereas the EU-27 average is 17 days (source: World Bank Doing Business 2008). It should be noted that these findings differ from corresponding figures obtained directly from the Member States according to which it takes 15 days in Greece (corresponding EU-27 average is 8 days).

SBA Fact Sheet Greece 2009

There are a few indicators where Greece performed below the EU-average, most notably the higher costs required to start a business (10 % of per capita income vs 5 % in the EU) and the E-government availability (with 45 % of twenty basic services available on line vs the EU average of 59 %). Most of the additional indicators imply a sub-average performance. These include the number of procedures for starting a business (15 versus 6) and for registering property (11 versus 5) as well as stricter employment regulations as described by the indicators measuring the rigidity of employment and the rigidity of working hours.

At the same time the percentage of transposed or notified single market directives and the share of import from EU-27 in total imports are for Greece below the EU-averages (respectively 98.6 % vs 99 % and 62 % vs 67 %).

VIII. Skills and innovation

Overall, the available figures for this SBA principle position Greece on a par with the EU-27 average. This is mainly because of indicators related to innovation, such as the share of SMEs innovating in-house, innovative SMEs cooperating with others or the share of SMEs having new products or income from new products, all standing in line with the EU average. Despite that fact, the percentage of SMEs turnover from new or significantly improved products and services is above the EU average (16 % vs 12 %). As regards the indicators covering skills aspects, the percentage of SMEs using e-learning applications for training employees in Greece (47 %) significantly exceeds the average (29 %), while the share of SME staff that have tertiary education reaches 25 %, in line with 30 % in the EU. The few indicators where Greece performed below the EU-average, were related to on-line transactions. Greek SMEs purchased less and received fewer orders on-line than their European peers.

V.

Public procurement and state aid

The only indicator that exists for this SBA area measures the proportion of total state aid devoted to SMEs compared to the total value of state aid. Greece, scoring 8 %, is on a par with the EU average of 11 %.

VI. Finance
Overall, the available figures for this SBA principle position Greece significantly below the EU-27 average, driven by five underperforming indicators (two of them significantly) out of the 8 available ones. The significant underperformers include the average delay in payments (30 days in Greece versus 16 in the EU) and the strength of legal rights protecting borrowers and lenders, scoring 3 for Greece versus 7 for EU on average (on a 0-10 scale). Among the indicators with sub-average performance there are the planned share of Structural Funds dedicated to stimulating entrepreneurship (6 % vs 9 %) and the two indicators measuring the availability of venture capital (early stage and expansion stage). Some additional indicators, e.g. the share of SMEs experiencing problems with access to finance (25 % vs 21 %) and share of lost payments (3 % vs 2.5 %) confirm the overall Greek sub-average performance in this domain. The few indicators, where Greece performed on a par with the EU average, were the depth of credit information index (measuring the scope, accessibility and quality of credit information available through credit registries) and the planned share of EAFRD funds dedicated to business creation and development in rural areas.

IX. Environment
The few indicators that exist for this SBA area do not form a consistent picture. While the percentage of SMEs applying simple measures to save energy is below the EU-27 average, the percentage of SMEs having comprehensive systems for energy efficiency is on a par with the average.

X. Internationalisation
Overall the available figures for this SBA principle position Greece below the EU-27 average. This is partly driven by sub-average values of per formance-related indicators. In Greece it takes 20 calendar days to export, and 25 days to impor t (compared with 11 and 13 days in the EU). Furthermore the share of turnover from exports is below the EU average (2 % vs 6 % in the EU). It should be however noted that a recent dedicated (one-off) study conducted by DG ENTR on the internationalisation of EU-SMEs, based on an EU-wide business survey, pointed at generally above-EU-average performances in Greece (the percentage of SMEs that had any own imports in 20062008, and the share of SMEs that invested abroad in 20062008 were significantly above the EU-27 averages). However, these findings were based on a rather limited sample.

VII. Single market

The available figures for this SBA principle position Greece below the EU-27 average. The two policy indicators, reflecting the average transposition delay in months for overdue directives and the number of overdue directives, are on a par with the EU-27 averages.

SBA Fact Sheet Greece 2009

3. Greece: developments in the SBA implementation

This section presents anecdotal evidence on the trends of individual indicators in the different SBA areas. As with the other countries, due to a lack of data, it is not possible to provide a general assessment of the progress made by Greece in the SBA areas on a more aggregated level.

I.

Entrepreneurship

VI. Finance
The majority of the available time series that exist for this SBA area exhibit a stagnating trend. These include the indexes measuring strength of legal rights related to getting credit, the depth of credit information index and the public registry coverage. However, the coverage of private credit bureaus increased between 2005 (11 %) and 2009 (39 %), while the share of lost payments significantly deteriorated in 2009 (from 2.2 % to 3 %).

The few indicators available, mainly including entrepreneurial activity indices (total, future, male, female) suggest a stable performance in this SBA area. The indicators exhibit relatively high volatility levels, which prevents from distinguishing a clear trend. necessity entrepreneurship index significantly increased from 0.6 in 2008 to 3 in 2009.

II.

Second chance

The few indicators that exist for this SBA area remained stable over time. The costs and the time needed for closing a business did not change between 2004 and 2009.

VII. Single market

There is only on indicator in this SBA field available for Greece where development over time is possible. The share of impor ts from the EU-27 in total impor ts constantly remains constant at around 60 %.

III. Think small first

For this SBA principle no time series exists for the individual indicators.

VIII. Skills and innovation IV. Responsive administration

The indicators that are available for this SBA area do not form a consistent picture. Many reveal a stagnating trend but there is a positive development in the field of starting a business: the number of days required to start a business decreased from 38 days in 2004 to 19 days in 2009 and the cost went down from 32 % to 10 % of per capita income during the same period. The cost to register property decreased from 14 % of the property value to 3.8 %. No clear evolution trend can be distinguished from the available figures. While the percentage of SMEs using e-learning applications for training significantly increased from 31 % in 2003 to 47 % in 2008, the indicators measuring online sales and purchases have remained unchanged.

IX. Environment
For this SBA principle no time series for the individual indicators were available.

V.

Public procurement and state aid

X. Internationalisation
The rather burdensome character of Greek, export and import procedures has been constant over the recent years. The number of calendar days required to export and to import have stood at 20 and 25 since 2006.

The single available indicator available for this SBA principle the proportion of total state aid devoted to SMEs showed a volatile performance. It moved in the band between 1 % and 12 % between 2000 and 2007.

SBA Fact Sheet Greece 2009

4. Policy developments 2007-2009

In 2007-2009, Greece initiated actions in seven SBA areas, namely Entrepreneurship, Second chance, Think small first, Responsive administration, Finance, Skills and innovation and Internationalisation. Some actions may fit under more than one SBA principle. However, each measure is only mentioned once. Whenever policies come in packages, e.g. a general reform package, the relevant elements are included under the most suitable SBA principle. The following policy developments are the most significant:

I.

Entrepreneurship

III. Think small first

GOVERNMENT 2008-2010 programme ( 20082010, continuation of GOVERNMENT 2005-2007 Programme). is intended to simplify existing legal regulations in relation to businesses (e.g. the Measure 1.3. Serving Citizens and Enterprises ). Priority has been given to legislation specially affecting a number of Greek sectors, e.g., communications, competition and business activities, transport, energy and commerce. In addition, the Greek Secretariat-General for Public Administration in accordance with other Greek Ministries has introduced a number of simplifications in existing administrative procedures particularly affecting Greek SMEs. Also several training programmes for civil servants have been developed to make them more sensitive and responsive to the needs of the Greek small businesses (e.g. Programme: GOVERNMENT 2008-2010, Sub-programme 4: Empowerment of Human Resources, Measure 4.2.: Targeted Education and Training of Human Resources in Public Administration; : 20 0 8 -2010, 4: , 4.2.: ).

In 2008, the program Entrepreneurship Enhancement and Reinforcement was adopted. The program aims at developing entrepreneurship abilities among (potential or existing) entrepreneurs. For this purpose, training and mentoring courses are provided. For start-up projects with the best business plans special incubation services are offered in dedicated premises located in Greek Science & Technology Parks. The Greek Ministry of Development has launched a new programme called Competitiveness and Entrepreneurship (EPAN ) for the time period 2007 2013. This programme, co-financed by the European Union, continues and expands the successful actions from the first Operational Programme Competitiveness ( ) developed in the time period 2000 2006. This new programme pays special at tention to the suppor t of woman and youth entrepreneurship (implemented by the Hellenic Organization of SMEs and Handcrafts-EOMMEX). Finally, since 2003, all Greek universities have offered special education programmes about entrepreneurship, aimed at undergraduate students (as part of the education curriculum) or/and the so called Entrepreneurship Services ( ), as part of the Career Offices. The Career Offices contribute to the effort of supporting and promoting youth entrepreneurship amongst ter tiar y-level students. These special education pro grammes resulted from the government policy (Hellenic Ministr y of National Education and Religious Af fairs, Operational Programme for Education and Initial Vocational Training).

IV. Responsive administration

The Greek Ministry of Development ( ) has improved its website in 2008, in order to make it more user-friendly, especially with regards to information on legislation, procedures and documents, as well as information about the location of offices dealing with the creation and operation of an enterprise. Finally, the Greek government set up in 2007, the Invest in Greece Agency ( ) to promote and facilitate private investment, both nationally and abroad. The agency guides investors at every step of the investment process and provides essential support for on-going operations or expansion projects.

II. Second chance

In 2007, the Greek Bankruptcy Code has been reformed. This new code ( ) has been designed accordingly to the following principles: i) priority is given to the rescue of the business; ii) second chance opportunities are extended; iii) the bona fide principle is treated with more leniency than in the past; iv) much faster bankruptcy proceedings are adopted in the event that the company reconstruction efforts do not succeed; v) greater transparency; vi) conciliation procedures are introduced; vii) special treatment of small bankruptcies is provided for.

V.

Public procurement and state aid

No relevant policy initiatives were reported for this area.

SBA Fact Sheet Greece 2009

VI. Finance
In 2009, the so called Programme of Credit Guarantee Fund for Small and Very Small Enterprises (TEMPME; ) has been established to facilitate the access of small and very small enterprises to the Greek banking system, by providing guarantees and counter-guarantees and undertaking part of their financial and commercial risk. The programme is funded with a budget of EUR 5 billion.

VII. Single market

No relevant policy initiatives were reported for this area.

VIII. Skills and innovation

The main aims of the Operational Programme (OP) Education and Lifelong Learning; ) for the time period 2007-2013 are: (a) Upgrade of the quality of education and promotion of social integration. (b) Upgrade of initial vocational training and vocational educational systems and linking education with the job market. (c) Strengthening human capital in order to promote research and innovation. (d) Reforms in the educational system so that lifelong learning becomes a reality for all. (e) Revision of study programmes, acceleration of the pace of adoption of new technologies and restructuring vocational training in various sectors. The Greek General Secretariat for Research & Technology has developed two new programmes in the framework of the Greek Strategic plan for RDI 2007-2013. On the one hand, the programme Knowledge-Excellence (-) is intended to promote activities for the generation of research results, and includes a number of operations such as: a) national sectoral Research & Technological Development (RTD) poles, b) collaborations between productive and Research & Technology bodies, c) international Research & Technology collaborations, d) expanding research and technological infrastructure, etc.

On the other hand, the programme Value (), is intended to facilitate the transition from research results into marketable products. The Operational Programme (OP) Competitiveness and Entrepreneurship ( , ) details the strategy for the reinforcement of competitiveness and outward oriented entrepreneurship of the Greek economy in the framework of the overall National Development Strategy for the new period 2007-2013. Specifically, priority Axis 1 Creation and utilisation of Innovation supported by Research and Technological Development aims at the acceleration of the transition to a knowledge economy, the incorporation of research, technology and innovation into the countrys productive fabric, as its principal motor for development and competitiveness, as well as the broad dissemination of the results of research and innovation in the Greek economy and society. Also, Axis 1 of the Operational Programme Competitiveness and Ent repreneur ship ( ), namely Generation and utilisation of innovation supported by research and technological development ( ) includes the action called Synergassia (Cooperation) see also principle X).

IX. Environment
No relevant policy initiatives were reported for this area.

X. Internationalisation
Policy initiatives taken in this area are: The Invest in Greece Agency ( ) has initiated in October 2008, the umbrella scheme called SYNERGASSIA (Cooperation). The main objectives of this scheme is to promote Greece to the international investment community, as well as to reinforce outreach by Greek regions and, finally, to increase further co-operation with local communities to facilitate foreign investment in Greek regions.

SBA Fact Sheet Greece 2009

5. Good practice
To illustrate the efforts of the government to promote SMEs, the statistical information of the fact sheet is enriched by an example of a good practice in SME policy. Example of a good practice in Greek SME policy Title of the scheme: Innovation vouchers for SMEs ( ). This scheme was introduced last March 2009 and it is expected to last until 2013. It is run by the General Secretariat for Research and Technology (GSRT) of the Greek Ministry of Development ( (), ). This scheme is directly aimed at supporting manufacturing and software industry SMEs in buying innovative consulting services and know-how from innovation agents. Indirectly, the scheme is also intended to support a number of Greek institutions (e.g. public laboratories of universities, technological colleges, research centres or high-tech companies) as suppliers of high added value/knowledge intensive services for SMEs (innovation agents). From an operative perspective, the scheme works as follows: the applicant SME has to identify a problem that requires know-how or expertise supplied by an external innovation agent. The vouchers, of individual value of EUR 7 000, are given to applicant companies and exchanged for expertise and consultant services from the innovation agents. Any excess value of these services as well as the corresponding VAT, is financed by the applicants. No more than one voucher can be allocated by the applicant. The applications are selected accordingly to their registration dates and the availability of funds in the relevant operational programme (six operational programmes are identified). SMEs may combine their vouchers for consultancies valued above EUR 7 000. The duration of each project is limited to four months. At the end, the beneficiary transfers the voucher to the innovation agent, who can exchange it for cash from the funding authorities.

For more information

SME Performance Review: http://ec.europa.eu/enterprise/policies/sme/facts-figures-analysis/performance-review/index_en.htm Small Business Act: http://ec.europa.eu/enterprise/policies/sme/small-business-act/index_en.htm The Euopean Small Business Portal: http://ec.europa.eu/small-business/index_en.htm Email: Entr-Craft-Small-Business@ec.europa.eu Tel: 0032 (0)2 29 92 639

SBA Fact Sheet Greece 2009

Annex I: Selected SBA indicators for Greece

Each dimension of the radar chart presented in section 2 corresponds to one of the 10 principles of the Small Business Act. Each SBA principle groups the most recent, available statistical indicators which explain the value for that principle. The chart is similar to the one published in 2008, but has been completed with additional indicators and updated with more recent data. An effort has been made to always include the most recent data, which usually means data that refers to the year 2008. Harmonisation (comparability across countries) was the main requirement for the indicators to be included. Therefore the indicators come from a variety of international sources (please see below), rather than from national statistical institutes. Additionally, to qualify for an SBA principle, an indicator must be available for either a minimum number of countries or cover a minimum percentage of SMEs in all countries. Please refer to the Methodological note on the website of DG Enterprise and Industry for more details about the applied methodology. A detailed description of all variables and their sources are also presented there.

Indicator

Latest country absolute value

EU- average of absolute value

Reference year for country value

Source

I. ENTREPRENEURSHIP 1.1 1.2 1.3 1.4 Desire to become self-employed Participation rate in entrepreneurship education Entrepreneurship as an opportunity Entrepreneurship rate: percentage who have started a business which is still active or currently taking steps to start one Degree to which the school education helped to develop an entrepreneurial attitude (%) Enterprise survival rate 47.00 n/a 37.00 33.00 30.71 32.33 57.48 23.72 2007 Flash Eurobarometer 192

before 2005 Flash Eurobarometer 192 2007 2007 Flash Eurobarometer 192 Flash Eurobarometer 192

1.5

50.70 n/a n/a n/a 0.20

52.77 70.94 10.37 4.30 0.11

2007 n/a n/a n/a 2007

Flash Eurobarometer 192 Eurostat Business Demography database Eurostat Business Demography database Eurostat EIM Business & Policy Research Global Entrepreneurship Monitor Global Entrepreneurship Monitor

1.9

1.10 Enterprise birth rate 1.11 Share of high-growth enterprises (% of total) 1.12 Business ownership rate: Private sector excluding agriculture, hunting, forestry and fishing 1.13 Total Entrepreneurial Activity Index 1.16 Ratio of opportunity to necessity entrepreneurship II. SECOND CHANCE 2.1 2.2. 2.3. Degree of support for allowing for a second chance (% in favour) Cost (% of estate) to close a business Number of years to close a business

9.86 2.21

5.85 6.24

2008 2008

89.00 9.00 2.00

79.80 10.72 2.09

2007 2009 2009

2007 Flash Eurobarometer on Entrepreneurship World Bank Doing Business World Bank Doing Business

SBA Fact Sheet Greece 2009

Indicator

Latest country absolute value

EU- average of absolute value

Reference year for country value

Source

III. THINK SMALL FIRST 3.1 3.2 3.3 Share of support among SMEs for current regulations Time required to comply with administrative obligations (% of total SME working time) Problems with administrative regulations 41.00 4.00 28.80 34.33 7.48 32.68 2007 2007 2007 Observatory of European SMEs Observatory of European SMEs Observatory of European SMEs

IV. RESPONSIVE ADMINISTRATION 4.1 4.2 4.6 4.7 4.8 Number of days for starting a business Costs required to start a business (% of income per capita) Cost (% of property value) to register property Enforcing contracts cost (% of claim) E-government availability (supply side) E-government on-line availability 19.00 10.20 3.80 14.40 45.00 15.00 11.00 22.00 17.20 5.21 4.54 19.80 59.48 6.16 5.16 61.12 2009 2009 2009 2009 2007 2007 2009 2009 World Bank Doing Business World Bank Doing Business World Bank Doing Business World Bank Doing Business Eurostat World Bank Doing Business World Bank Doing Business World Bank Doing Business

4.10 Number of procedures for starting a business 4.14 Number of procedures for registering property 4.15 Number of days for registering property V. PUBLIC PROCUREMENT AND STATE AID 5.1 5.2 Share of SMEs in terms of value of public procurement contracts Proportion of total State aid devoted to SMEs

n/a 8.00

n/a 10.60

n/a 2007

EC Report State aid scoreboard

VI. FINANCE 6.1 6.2 6.3 6.4 6.5 6.6 6.9 Venture capital early stage relative to GDP Venture capital expansion stage relative to GDP Extent of guarantees for SMEs (relative to GDP) Getting credit: Strength of legal rights index (0-10) Getting credit: Depth of credit information index (0-6) Difference in interest rate levels between loans up to EUR 1 million and loans over EUR 1 million Average delay in payments (% share of average contract days) 0.00 0.01 0.04 3.00 4.00 0.82 30.00 3.00 24.80 0.02 0.08 0.24 6.64 4.52 1.00 16.41 2.50 21.06 2007 2007 2007 2009 2009 2009 2009 2009 2007 EVCA EVCA Enterprise finance index World Bank Doing Business World Bank Doing Business ECB MFI interest rate statistics Intrum Justitia Intrum Justitia Observatory of European SMEs

6.10 Share of lost payments (% of total) 6.11 Share of SMEs experiencing problems with access to finance VII. SINGLE MARKET 7.1 7.2 7.3 7.4 Average transposition delay in months for overdue directives in months Single market directives % transposed or notified Number of 2 years overdue directives Share of intra-EU exporting SMEs to all SMEs (in terms of number of enterprises)

10.90 98.60 3.00 n/a

9.86 98.96 2.28 0.03

2008 2008 2008 n/a

DG MARKT Internal market scoreboard Internal market scoreboard Eurostat external trade pilot

SBA Fact Sheet Greece 2009

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Indicator

Latest country absolute value

EU- average of absolute value

Reference year for country value

Source

VIII. SKILLS AND INNOVATION 8.1 Percentage of enterprises having purchased on-line over the last calendar year (SMEs: between 10-250 employees) Percentage of enterprises having received orders on-line over the last calendar year (SMEs: between 10-250 employees) SMEs innovating in-house, as a percentage of the total number of SMEs (10-250 employees) Enterprises introduced organisational and/or marketing innovation, as a percentage of the total number of SMEs (10-250 employees) Innovative SMEs co-operating with others, as a percentage of the total number of SMEs (10-250 employees) SMEs with innovation activities SMEs with innovation activities (10-250 employees) Share of SMEs that have new products or income from new products Share of SMEs turnover from new or significantly improved products and services Share of SME staff that have tertiary education 10.00 23.52 2008 Eurostat science & technology

8.2

7.00

12.81

2008

Eurostat science & technology

8.3 8.4

32.70

30.33

2006

EUROSTAT, CIS

34.42

27.28

2006

EUROSTAT, CIS

8.5

13.30

11.62

2006

EUROSTAT, CIS

8.6 8.7 8.8 8.9

40.00 68.70 16.00 25.00

35.59 63.77 12.30 30.44

2006 2007 2007 2007

EUROSTAT, CIS Observatory of European SMEs Observatory of European SMEs Observatory of European SMEs

IX. ENVIRONMENT 9.1 9.2 % Share of SMEs having comprehensive systems for energy efficiency % Share of SMEs applying simple measures to save energy 4.00 22.00 4.26 28.44 2007 2007 Observatory of European SMEs Observatory of European SMEs

X. INTERNATIONALISATION 10.1 Share of turnover from export (% of total) 10.2 Share of SMEs gaining any income from subsidiaries and/or joint ventures abroad (%) 10.4 Number of days required to export 10.5 Number of days required to import 10.6 Share of SMEs exporting outside the EU-27 to all SMEs (in terms of number of enterprises) 10.10 SME enterprise had any own imports in 2006-2008 10.11 SME enterprise had any direct exports in 2006-2008 10.12 SME enterprise invested abroad in 2006-2008 2.00 5.80 20.00 25.00 n/a 69.58 34.06 8.62 5.58 4.76 11.25 13.44 n/a 39.17 27.13 3.68 2006 2006 2009 2009 n/a 2008 2008 2008 Observatory of European SMEs Observatory of European SMEs World Bank Doing Business World Bank Doing Business Eurostat External Trade pilot DG ENTR Study on Internationalisation of SMEs DG ENTR Study on Internationalisation of SMEs DG ENTR Study on Internationalisation of SMEs

Note: The above selection of indicators constitutes a sample of the data used to construct the radar chart for this country. Most but not all of the above cited indicators have been used to calculate the section averages that are highlighted in the chart. It should be noted that not all indicators come with yearly updated values.

SBA Fact Sheet Greece 2009

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