BUSINESS

Extensive use of new technologies

TAGS: Economy

The latest generation of businesses in Greece are making increasing use of new technology, as the annual report by the Foundation for Economic and Industrial Research (IOBE) has found that two in every 10 new entrepreneurs (19.5 percent) state they use new technologies in their production process or in the provision of services.

According to data processed by the Federation of Hellenic Information Technology & Communications Enterprises (SEPE), this rate is among the highest in the European Union, ranking Greece second only to Germany.

The majority (56 percent) of new entrepreneurs in this country say they employ already known technologies or procedures (as opposed to new ones) in their businesses. This rate is lower than in 2015 (60.1 percent) but remains comparatively high.

The extensive use of existing technologies is, according to the researchers, connected to factors related to the financial crisis, as cutting-edge technologies are more expensive than those already widely available, while three in five entrepreneurs say none of their potential customers would consider their products or services as new or pioneering.

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