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Financing a Business in Greece

Financing your business in Greece is a key element. Once your research and planning is done what do you do next? Your accountant can be a vital source of information and help regarding finance and ways of obtaining it for your new venture.

Here are some possible ways of financing your business in Greece:

• Bank financing having a well written and well researched business plan can help your bank decide if they can help you financially. A business plan for Greece can show them what their money will be used for, how it will develop your business and potential earnings.
• Floating your company on a public stock exchange is a way of raising money for future growth. AIM, the junior partner of the London Stock Exchange (LSE), has established itself as the preferred route for younger companies wanting to go public.
• Public Aid The structural framework for investment support in Greece revolves around three institutional pillars:

• the Investment Incentives Law,
• the National Strategic Reference Framework 2007- 2013, establishes the broad priorities for Structural Funds Programmes in Greece.
• Public Private Partnerships (PPP).

• It is worth remembering that funding in Greece is divided up into regions and zones so its valuable to research which location and market area you wish your business to be in. A useful link is http://www.investingreece.gov.gr
  
• Tax relief or incentives there maybe tax incentives or relief for small to medium sized businesses in Greece. Getting vital research is important and two useful links are;
  
• The Athens Chamber of Commerce & Industry http://www.acci.gr/acci
  and The British Hellenic Chamber of Commerce http://www.bhcc.gr
• European Aid grants are direct financial contributions from the EU budget or from the European Development fund. It is worth checking out your possible grants, funds and programmes by following the link and looking under a particular section i.e. Agriculture, Energy or Audiovisual and Media. http://ec.europa.eu/grants/index_en.htm

It can be overwhelming when trying to find ways of obtaining finance in Greece. It is worth remembering that there are over 450 funding sources for reimbursable grants, aid schemes, individual fellow and traineeships, loans and guarantees in the EU. These can be awarded from such organisations like the European Commission, the Council of Europe, the European Investment Bank and others.Helpful links are:

http://www.eubusiness.com/funding/eu-funding/european-funds/

and http://cordis.europa.eu/eu-funding-guide/finding-sources_en.html

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