The summer discount season left behind yet another missed opportunity for small and medium-sized enterprises (SMEs), according to findings from a survey conducted by the Athens Traders Association.
Despite heavy price cuts, 77.4% of businesses reported a drop in turnover, while 84% are calling for a new regulatory framework to impose limits on discount practices.
Association president Thanos Tsaggaris noted that SMEs attempted to compete through steep markdowns, but consumer demand failed to pick up. He stressed that nearly eight in ten businesses believe Law 4965/2022, which liberalized sales promotions, has led to market deregulation.
At the same time, soaring operating costs—up between 26% and 50% for most businesses over the past three years—combined with shrinking consumer purchasing power, have created what he described as “a regime of financial suffocation.”
Tsaggaris underlined that SMEs are not seeking special privileges but rather fair competition and access to survival tools. He warned that without immediate support measures, up to half of Greece’s SMEs risk shutting down within the next three years.
The survey further shows that e-shops run by small businesses remain largely inactive, as 58.5% of respondents said online revenues fail to cover operational costs. SMEs also report that turnover is steadily shifting toward multinationals, department stores, and major digital platforms, while banks remain “closed” to them and access to EU funding programs has been practically non-existent since the bailout era.
In response, the Athens Traders Association has put forward a series of demands to the government.
These include tighter regulation of discounting practices through new legislation, the introduction of a national levy on small parcels arriving from Asian platforms, comprehensive debt restructuring with up to 150 installments and a functioning out-of-court settlement mechanism, lower taxation, and immediate access to financing through banks or a strengthened Development Bank.
Other proposals include easing entry criteria for EU support programs, reinstating a minimum nine-year lease period for commercial properties, and granting a three-year extension with a 3% increase for leases expiring within the next three years.
