Small size, a restrained appetite for risk, and the absence of organized succession planning in a large part of family businesses are emerging as key issues for the next day of Greek entrepreneurship, according to the EY Entrepreneurship Barometer Greece 2026.
EY’s survey, which records the views of 167 Greek entrepreneurs, shows a market that recognizes the need for transformation, invests more in organization and technology, but remains cautious toward larger moves, such as acquisitions, sales, or transfers.
This picture becomes more significant when combined with the structure of Greek entrepreneurship. According to European Commission data, very small businesses, with 0 to 9 employees, account for 94.5% of all businesses in the non-financial sector in Greece.
At the same time, SMEs overall represent 99.9% of businesses, 84.7% of employment, and 62.8% of added value.
The problem of the numerical predominance of small units is linked to the limited ability of businesses to finance investments, quickly adopt new technologies, attract specialized personnel, and achieve a larger-scale productive footprint.
Investments with caution
EY’s survey shows that Greek entrepreneurs say they are more ready to proceed with investments compared with their counterparts in the other countries that participated in the survey. However, the direction of the investments also shows the limits of the current situation.
Businesses focus mainly on short-term investments with an emphasis on digital transformation. 63% plan upgrades or new applications of information systems and software, while 51% intend to invest in technologies or systems for process automation.
By contrast, the appetite for investments in machinery equipment and new facilities is declining, that is, in moves more directly linked to productive expansion and increased capacity. At the same time, investments are based mainly on self-financing, with 66% reporting reinvestment of profits and own capital, while only 20% report loans from financial institutions.
Innovation first in organization
A similar picture also emerges from priorities in innovation. Greek entrepreneurs give priority to organizational innovation, at 59%, compared with 53% for product innovation and 38% for process innovation.
This shows that businesses recognize the need to change the way they operate. At the same time, however, it shows that the effort starts more from within the business and less from bolder moves of productive upgrading or expansion in size.
In artificial intelligence, for example, 83% report increased use of AI and machine learning over the last 12 months. However, investments remain limited, as 39% have invested up to 25,000 euros over the last three years and 20% have made no investment at all.
Caution in transfers
The same cautious stance is also evident on the issue of transfers. According to EY, nearly seven in ten entrepreneurs, 69%, say they are not considering selling their company in the next 12 months.
Family succession remains a basic continuity model, as 40% favor transferring the business within the family. Of course, the most attractive option appears to be a sale to another company at 42%, while interest in selling to investors or funds is limited to 32%, down compared with last year.
This caution has a strong Greek basis, as many businesses are closely connected to the founder, the family, and even the local market. However, when sales, mergers, or strategic participations are not systematically considered as development tools, the possibilities for creating larger schemes are limited.
The open issue of succession
The most sensitive point concerns family businesses, which make up 59% of the Greek sample in the survey. Succession and the transition to the next generation emerge as the most important challenge, at 45%, followed by maintaining the balance between family and business, at 42%.
Despite the importance of the issue, planning remains inadequate, as only 31% say they have a formal succession plan in force and 3% that they have assigned the planning to external advisers. By contrast, 33% have not yet dealt with the issue, while 16% discuss succession informally as a family.
This means that for a significant part of family businesses the next day remains unclear. And when succession has not been organized, the uncertainty does not concern ownership alone. It affects management, investments, financing, and the ability of the business to grow.