Greece outlines three key financing sources for SMEs

Greek Deputy Minister of Development Stavros Kalafatis has outlined three primary sources of liquidity and financing available to small and medium-sized enterprises (SMEs) during an event hosted by the Thessaloniki Chamber of Commerce.

The first source involves tax relief through a 2.2 billion euro package. Key measures include the abolition of certain tax presumptions for compliant professionals, reducing tax advances to 50%, the permanent removal of the Profession Fee for Thessaloniki and its region by 2027, and an immediate reduction in income tax starting from the next tax return.

The second category focuses on low-cost financial tools and direct subsidies. This includes 5 billion euros in new liquidity via the Recovery Fund and banking leverage, as well as a Development Law emphasizing Northern Greece. Specifically, nearly 1 billion euros is directed toward Macedonia and Thrace to support 282 investment projects. Additionally, 681 million euros has been secured through the Social Climate Fund exclusively for SMEs.

The third source involves risk capital, innovation, and cutting-edge infrastructure, highlighted by a record absorption of 3.5 billion euros from the European Investment Bank.