The first “EY Entrepreneurship Barometer Greece 2025” highlights the ongoing challenges faced by Greek business leaders, who prioritize innovation and investment despite market uncertainty, increased costs and a lack of skilled labor.

According to the survey, 83% of entrepreneurs cited higher operating costs, and 81% cited labor costs as the greatest threats for their business this coming year.

Views on the business climate in Greece were divided: 41% found it favorable, 39% unfavorable, and 19% neutral. These numbers are, for the most part, better than other countries in the Central, Eastern and Southeastern Europe and Central Asia (CESA) area where only 24% of businesses see a favorable business climate.

Bureaucracy and Greece’s complex regulatory environment were identified as the most significant barriers to entrepreneurship by 77% of those polled, followed by a lack of skilled labor at 50%.

In the next 12 months, 65% of Greek businesses plan to invest in new or upgraded IT systems, 62% in new or upgraded equipment or machinery, and 45% in new facilities.

Greek business owners cite market uncertainty (45%) and geopolitical instability (41%) as negatively influencing their investment decisions.

Nevertheless, those who do go forward with any kind of investment will use their earnings and equity (66%) to do so, while only 19% choose bank loans.

Innovation is a central priority for Greek businesses, whether it’s to develop new products, or to improve processes. 59% are looking into innovative products while 54% plan to focus on organizational innovation.

Despite an overall belief (76%) that AI can have a positive impact on operations and productivity, Greek business investment in AI is considered low: 27% of Greek businesses have made no AI investment in the past three years, while only 5% have invested more than €250,000. Yet these numbers are better compared to the CESA area in which 43% of businesses have made no investment in AI at all.

Hiring is important for Greek businesses, with 67% of entrepreneurs planning to increase their full-time staff this year, compared to 48% in the CESA area. 18% plan part-time hiring, compared to 27% in the CESA area. Greek technology companies are those most likely to hire full time (85%).

However, 78% report difficulty finding candidates with the right skills, and 61% of businesses feel prospective candidates just don’t have sufficient experience.

Succession planning also poses challenges in Greece. While 62% of Greek businesses polled by EY are family-owned, only 32% have formal succession plans. Additionally, 54% of family-owned businesses struggle to balance family and business interests, and 52% report difficulties planning for generational transition.

Regarding exit strategies, 58% of business owners do not expect to sell any part of their business this year, while 48% would consider selling to investors or funds, 41% to other businesses, while 38% favor family succession.

In particular, Greek businesses focused on technology and consumer goods would consider being sold to investors, while industrial enterprises prioritize family succession.

The survey included 135 Greek entrepreneurs and was conducted from 6 February to 17 March of 2025.