Original Coverage & Source Attribution: greekreporter.com
The results and conclusions of the Eurochambres Economic Survey 2027 was pubished on November 3, with the participation of the Union of Hellenic Chambers of Commerce, highlighting the challenges that Greek business owners are expecting to face in the coming year.
The Greek results reflect the survey’s Pan-European conclusions in that energy costs and affordable access to raw materials rank as the businesses’ top challenge for the year ahead.
However, while in the European average the regulatory and administrative burden ranks second, labour costs third and the lack of skilled workers fourth, with financing conditions ranking even lower, the latter remains a major issue for Greek entrepreneurs.
The report was based on responses from 40,717 entrepreneurs across 27 European countries, provided in the form of an annual business expectations survey implemented by the network of chambers of commerce and industry and coordinated by Eurochambres.
Top challenges for Greek entrepreneurs into 2027
Survey participants across the bloc were asked to select up to three challenges, from a total of six, that they expect to face in 2027. For each challenge, Eurochambres calculated the share of respondents selecting it, weighted in the same way as the business indicators in other questions to reflect differences in country size and share of respondents.
A chart published alongside the 34th Eurochambres Economic Survey shows that Greece has the highest share of respondents – at the national level – that have selected financing conditions as a major challenge for the year ahead.
A share of more than four in ten participating entrepreneurs selected financing conditions as a major challenge into 2027, placing this specific concern second after energy costs and affordable access to raw materials – which was aknowledged as a challenge by half of the participating businesses.
The closest to Greece in terms of financing struggles for entrepreneurs was Malta, where financing conditions ranked just under 40 percent of the share.
On the other hand, Greece ranked better than most in labour costs, regulatory and administrative burdens, and lack of skilled workers. Trade barriers ranked around the EU average and appeared to be the least of Greek entrepreneurs’ concerns.
EU businesses remain resilient, but lack confidence
Across the EU, the 2027 national and export sales expectations have both shifted positively for the first time in several year, driven by recovering domestic demand, stronger global demand, and a partial normalisation of trade conditions, the survey shows. Yet, employment expectations are negative for the fourth consecutive year.
Investment expectations are less negative than in the previous two years but
remain below their historical average, and business confidence is set to creep down, moving below its ten-year average.
Greek entrepreneurs are expecting national demand to decrease, exports to increase, employment and investment to remain about the same, and business confidence to drop.
“The gap between the political commitments made by EU policy makers – not just in
Brussels, but also in the member states – and the daily experience of a small business owner remains far too wide. The midpoint of this Commission mandate is the moment to accelerate, not to consolidate,” comments Eurochambres President Vladimír Dlouhý.
Eurochambres report hints at priorities for policymakers
The results are pointing at the priorities for policymakers in order to help EU businesses propel forward.
Eurochambres calls on European and national policymakers to treat energy affordability as a first-order competitiveness issue; turn simplification into real relief; ease the cost of hiring; close skills gaps; help SMEs adopt digital and AI technologies; improve SMEs’ access to finance; and complete the single market, especially for services.
When it comes to financing, Eurochambres suggests that progress is made on the Savings and Investments Union to deepen equity and debt markets for smaller businesses, and that sustainable finance rules do not indirectly exclude SMEs from bank lending.
The implementation of the Omnibus simplification packages is also recommended, as well as reviewing social security contributions for SMEs and considering targeted
relief for labour-intensive sectors.
Investment incentives can be expanded through InvestEU and the Digital Europe Programme to make digital and AI skills training more accessible for smaller businesses.
