How hard is it to start a business in Greece? What are the laws concerning entr

  1. Brooke Lorren profile image59
    Brooke Lorrenposted 6 years ago

    How hard is it to start a business in Greece?  What are the laws concerning entrepreneurship there?

    Greece is in a very difficult position financially.  I've been reading about people using "starvation cookbooks" and giving up their children because they have no money and cannot find a job.  I wonder if the Greek government has regulations that make it difficult for entrepreneurs to start businesses.  You would think that if they made it easy to start businesses, then at least that might help the employment situation of some, somewhat.

  2. one2get2no profile image83
    one2get2noposted 6 years ago

    Your question is very topical considering that 150 businesses in the centre of Athens was burned to a cinder last night.

    Greece is the most difficult place in the world to open a business. Out of a survey of 150 countries Greece is around 147. It takes anything from 6 months to 5 years depending on the size of the business, The paperwork is ridiculous with anything from 37 different types of documents. Oh and of course you need money to pass under the table to the various authorities.

    Lastly when you want to close your business the authorities will come and audit. Just in case you have not paid the correct taxes or VAT over the years you had the business they will charge you an arbitrary amount of money the size of which depends on how kind you are to them. Oh I almost forgot, also the tax laws have changes 17 times in the last 5 years just to make budgeting slightly difficult.

    I believe Uganda makes it easier to start a business.

  3. Lions Den Media profile image60
    Lions Den Mediaposted 6 years ago

    Starting a business in Greece is exceptionally difficult. It is not a capitalist system based on 21st or even 20th century laws, but rather arcane 19th Century laws, political graft, payoffs and endless paperwork. It is truly a socialist form of government that is exceptionally corrupt system and lacks any sense of political or economic stability, which is essential to starting any business. In fact Greece loses a tremendous amount of business to surrounding countries precisely because of these issues. The Heritage Foundation just recently completed their "Economic Freedom" rankings which review how easy it is to conduct and start businesses etc. and Greece ranks 119 out of 179 countries. In another study the Greeks were found to be extremely hard workers.

    Greece is a microcosm of what happens in a socialist state when government spending and easy credit is, coupled with stagnant economic growth.  It is a representative economic model of what occurs to a Nation State when the incentive to produce and prosper is taken out of the equation and replaced by government larges.