Small size, a cautious attitude toward risk, and the lack of a structured succession plan in a large portion of family businesses are emerging as key issues for the future of Greek entrepreneurship, according to the EY Entrepreneurship Barometer Greece 2026.
The EY survey, which captures the views of 167 Greek entrepreneurs, reveals a market that recognizes the need for transformation, is investing more in organization and technology, but remains cautious about major moves such as acquisitions, sales, or transfers.
This picture takes on greater significance when viewed in the context of the structure of Greek entrepreneurship. According to European Commission data, micro-enterprises—with 0 to 9 employees—account for 94.5% of all businesses in the non-financial sector in Greece.
At the same time, small and medium-sized enterprises (SMEs) as a whole account for 99.9% of all businesses, 84.7% of employment, and 62.8% of value added.
The problem of the numerical predominance of small enterprises is linked to their limited ability to finance investments, rapidly adopt new technologies, attract skilled personnel, and achieve a larger-scale production footprint.
Investing with Caution
EY’s survey shows that Greek business leaders report being more ready to proceed with investments than their counterparts in the other countries that participated in the survey. However, the direction of these investments also reveals the limitations of the current situation.
Companies are focusing primarily on short-term investments, with an emphasis on digital transformation. Sixty-three percent are planning upgrades or new implementations of information systems and software, while 51 percent intend to invest in process automation technologies or systems.
In contrast, the willingness to invest in mechanical equipment and new facilities—that is, in initiatives more directly linked to production expansion and capacity growth—is declining. At the same time, investments are primarily self-financed, with 66% citing the reinvestment of profits and equity, while only 20% cite loans from financial institutions.
Innovation Comes First in Organization
A similar picture emerges from innovation priorities. Greek entrepreneurs prioritize organizational innovation (59%), compared to 53% for product innovation and 38% for process innovation.
This indicates that companies recognize the need to change the way they operate. At the same time, however, it suggests that these efforts stem more from within the company and less from bolder moves toward production upgrades or expansion.
In the field of artificial intelligence, for example, 83% report an increase in the use of AI and machine learning over the past 12 months. However, investments remain limited, as 39% have invested up to 25,000 euros over the past three years, and 20% have made no investment at all.
Caution Regarding Acquisitions
The same cautious attitude is evident when it comes to business transfers. According to EY, nearly seven out of ten business owners—69%—state that they are not considering selling their company in the next 12 months.
Family succession remains the primary model for business continuity, as 40% prefer to transfer their business within the family. Of course, selling to another company appears to be the most attractive option at 42%, while interest in selling to investors or funds is limited to 32%, down from last year.
This caution is deeply rooted in the Greek context, as many businesses are closely tied to the founder, the family, and even the local market. However, when sales, mergers, or strategic investments are not systematically considered as growth tools, the potential for creating larger entities is limited.
The Unresolved Issue of Succession
The most sensitive issue concerns family businesses, which account for 59% of the Greek survey sample. Succession and the transition to the next generation emerge as the most significant challenge, at 45%, followed by maintaining a balance between family and business, at 42%.
Despite the importance of the issue, planning remains inadequate, as only 31% report having a formal succession plan in place and 3% say they have entrusted the planning to external consultants. In contrast, 33% have not yet addressed the issue, while 16% are discussing succession informally as a family.
This means that for a significant portion of family businesses, the future remains unclear. And when succession has not been organized, the uncertainty extends beyond ownership. It affects management, investments, financing, and the business’s ability to grow.