Friday November 28, 2014 Search
Weather | Athens
16o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Great margin for growth in exports

 While sentiment constantly improves, local enterprises say they face obstacles to becoming more extrovert

Competitiveness in small and medium-sized enterprises needs to become stronger, the National Bank of Greece argued in its biannual report on SMEs on Monday, though it also confirmed the steady improvement of business sentiment in the country.

Demand expectations are positive for the first time since the start of the crisis but liquidity remains a hampering factor, the report said.

Business sentiment continued to improve in the first half of 2014, reverting to positive territory for the first time since the start of the crisis, posting a 37-point rise from the first half of 2012.

The improvement in sentiment was greater among the bigger enterprises in our sample, as the majority of smaller SMEs is still at the survival stage. Cash flow remains a huge problem as suppliers are asking for faster payments, the NBG report added.

Despite drastic cuts to labor costs by about 50 percent in many sectors over the last five years, exports have failed to blossom in the way many had anticipated. While in 2008 the exports of SMEs amounted to 8 percent of their turnover, in 2013 this posted minimum growth to 9 percent. One in seven companies (15 percent) actually reduced sales abroad and just one in three companies increased exports. In total, just 40 percent of companies have an outward-looking character, with only 7 percent owing the majority of their sales volume to exports.

According to the report, 16 percent of SMEs that do not import anything today would certainly explore the option on the condition that obstacles raised by bureaucracy were lifted, gaps in transport infrastructures were covered and some incentives were given.

There is a greater margin for the acceleration of the recovery of the corporate sector, as exporting has not yet managed to operate as a dynamic pillar of recovery, said the report.

Among the specific obstacles cited by responding entrepreneurs were the problematic operation of customs offices, the insufficient access to export financing, and conditions in forwarding networks and transport infrastructures.

The main advantages of Greek products are their quality and the considerable experience of corporate officials, the report added.

ekathimerini.com , Monday Jul 28, 2014 (21:08)  
Greek retail sales post rise but deposits take a hit
Cyprus president urges probe into airline bidding
Aegean Airlines flying high, nine-month results show
Bank of Cyprus posts 5-mln-euro loss in Q3
Moscovici urges Athens to take necessary measures, make way for troikas return
The Greek government must take all the necessary measures so that troika inspectors return to Athens for their final assessment on Greece's reform program, EU Economic and Tax Commissioner P...
Venizelos urges Turkey to respect Cyprus EEZ
Ankara must respect Cyprus's exclusive economic zone (EEZ) if it wants UN-brokered reunification talks to resume, Greek Foreign Minister Evangelos Venizelos said ahead of a weekend visit to ...
Inside News
SOCCER
PAOK is one win from Europa Leagues last 32
A late brace by Stefanos Athanasiadis gifted PAOK a precious win at Dynamo Minsk on Thursday, meaning that the Thessaloniki team is one win away from graduating from the group stage of the E...
BASKETBALL
First defeat for Olympiakos in Euroleague
Olympiakos suffered its first Euroleague loss of the season going down 89-70 at Laboral Kutxa on Thursday, although the Greek team remains the favorite to clinch the top spot in its pool. Th...
Inside Sports
COMMENTARY
Change of US president wont mean change of foreign policy
Americans have again voted for change in Washington as opposition Republicans take control of both houses of the US Congress. As attention now turns to the 2016 presidential race, it's time ...
COMMENTARY
The presidential election paradox
A few days ago, speaking with a visiting colleague who neither works in Europe nor covers events here, I suddenly felt how much we Greeks take for granted some things that should have worrie...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Greek retail sales post rise but deposits take a hit
2. Cyprus president urges probe into airline bidding
3. Aegean Airlines flying high, nine-month results show
4. Bank of Cyprus posts 5-mln-euro loss in Q3
5. Moscovici urges Athens to take necessary measures, make way for troikas return
6. As prices keep falling, Greeks finally start to spend
more news
Today
This Week
1. Child molester suspect photo released by police
2. Lebanese FM: Cyprus may be jihadi transit point
3. Athens water supply 9-month profit falls 45 pct on lower charges
4. Change of US president won't mean change of foreign policy
5. Armed man arrested on Thessaloniki campus
6. Greek economy expands 0.7 pct q/q in Q3
Today
This Week
1. Give Greece a chance
2. Extremism from a bygone era
3. Scientists expand excavation of ancient Amphipolis
4. Greece paralyzed by major strike, flights cancelled
5. Piraeus nightclub shooting leaves 3 seriously injured
6. Coscos Greek unit adds multinational rail-freight client
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.