Access to EU finance for SMEs – what can we learn from Greece?

Small and Medium-sized Enterprises (SMEs) are the backbone of the EU economy. According to EC estimates, the overall contribution of SMEs to EU-27 value added was more than 57% (€3.4 trillion) in 2012. SMEs are responsible for wealth and economic growth, in addition to their key role in innovation and R&D. Although the role of SMEs in the EU economy is crucial and their well-being should be a priority for European policy-makers, they struggle with access to finance especially in the countries severely hit by the crisis. The Greek experience might and should be taken as a case study and lead to conclusions on how to improve the system for the future. Only a stable economy and fiscal system allows business to operate in security and confidence. These are the elements necessary for growth