New businesses are opening in Greece at an increasing rate, a sign that there is a return to recovery, despite the huge uncertainties that prevail.
According to ELSTAT, new business registrations (start-ups), for all sectors of the economy, in the third quarter of 2021 amounted to 22,642, showing an increase of 9.2% compared to the third quarter of 2020 which had risen to 20,725 and a decrease of 14.1% compared to the second quarter of 2021 when they had reached 26,370.
The largest increase in the number of new business registrations, in the third quarter of 2021 compared to the third quarter of 2020, was recorded in the sector “Financial and Insurance Activities” (34.0%) and in the sector of Transport and Storage (12.4 %), while the corresponding largest decrease was recorded in the sector “Processing” (22.1%) and in the sector “Activities of Accommodation Services and Catering Services” (15.6%).
At the same time, corporate bankruptcies for all sectors of the economy for the third quarter of 2021 were 1 compared to 6 for the third quarter of 2020.
Favorable climate in South Aegean and Crete
The sectors of economic activity, in which the largest number of youth registrations was recorded
of businesses, per Large Geographical Region of Greece, are:
• Northern Greece: “Agriculture, Forestry and Fisheries”, with 2,280 registrations in a total of 6,406.
• Central Greece: “Agriculture, Forestry and Fisheries”, with 2,031 registrations in a total of 5,510.
• Attica: “Professional, Scientific and Technical Activities”, with 1,497 registrations in total
7,642.
• Aegean Islands – Crete: “Agriculture, Forestry and Fisheries”, with 1,408 registrations in a total of 3,084.
Read also: How the entrepreneurial map of Greece is changing
Sole Proprietorships are the “champions”
At the same time, the sectors of economic activity, in which the largest number of youth registrations was recorded
of enterprises, per category of Legal Form of enterprise, are:
• Sole Proprietorships: “Agriculture, Forestry and Fisheries”, with 5,915 registrations in a total of 16,541.
• Private Enterprises: “Wholesale and Retail Trade, Motor Vehicle Repair and
Motorcycles “, with 507 registrations in a total of 2,002.
• Capital Enterprises: “Real Estate Management”, with 91 registrations in a total of 350.
• Other Legal Forms: “Supply of Electricity, Natural Gas, Steam and Air Conditioning”, with
592 registrations in a total of 3,749.
Latest News
Developing the Blue Carbon Economy in Greece
Can Greece make money by protecting its marine environment?
EIB Appoints Greece’s Ioannis Tsakiris as New VP
Ioannis Tsakiris started the new role May 1 after spending 15 years at the European Investment Fund (EIF) and serving as Greece’s Deputy Minister for Development and Investments
Two Greek Beaches in Top 50 in the World
Both Greek beaches were on the list of the best beaches in Europe too
Eurostat: Greece 20th out of 26 European States in Hourly Average Wage
According to figures released by Eurostat, the Benelux Grand Duchy of Luxembourg, one of Europe’s hubs for finance, is in first place
Greek Property Renovation Surge amid Economic Constraints
This has led to a notable escalation in renovation costs, with average prices per square meter exceeding previous norms and reaching even 1,000 euros in premium locations
RRF: Additional €5.1bln Funds for Subsidies to Greece in 2025
By April 22, funds totaling 5.75 billion euros had been transferred for approved projects of the Recovery Fund to entities within and outside the general government and final recipients
OECD: Greek Economy Resilient with 2% Growth Forecast for 2024
However, the OECD highlights challenges including the need to enhance productivity and fiscal adjustment due to high debt levels.
Challenges and Delays in Greece’s Hydrocarbon Exploration
Sources disclose that the petroleum companies holding the concessions are seeking partners to jointly invest and share the costs of exploration and drilling.
Greek Beach Visitors Can Report Violations on New ‘MyCoast’ App
Greek authorities hope the newly-launched, free ‘MyCoast’ app will help clamp down on public beach violations
BoG Figures Confirm Banner Year for Greek Tourism in 2023
20.6 billion euros in related revenues topped the previous year’s figure by 16.5%