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GSEVEE: Only 3%-5% of small businesses receive bank funding
According to research by IME GSEVEE, only 3% to 5% of small businesses in Greece report receiving funding through bank loans, with personal funds remaining the primary source of financing.
GSEVEE President Georgios Kavvathas highlighted these findings during events celebrating the 100th anniversary of the Federation of Professional, Craft and Commercial Associations (OEVES) of Messinia. Kavvathas noted that fewer than one in four businesses are investing in technological equipment or digital technologies, a trend that is even more pronounced among very small enterprises.
Kavvathas advocated for financial tools designed specifically for small businesses, calling for standardized processes that are adapted to smaller investment amounts without disproportionate administrative costs, complex business plans, or multiple approval procedures. These issues were discussed at the 5th Student Conference on innovation and entrepreneurship, held in collaboration with the University of Peloponnese.
Entities
GSEVEE · Georgios Kavvathas · OEVES Messinias · University of Peloponnese