Spyros Theodoropoulos, Chairman of SEV Hellenic federation of enterprises, has long been at the forefront of efforts to strengthen the competitiveness of Greek business and promote economic growth in the country.
Here, interviewed by AmCham Greece VP John D. Saracakis, he talks about his work with SEV, key factors shaping Greece’s economy and business environment, and how the crucial collaboration between SEV and the American-Hellenic Chamber of Commerce can bolster economic ties and foster strategic partnerships between Greece and the United States.
John D. Saracakis: Tell us a little about how you got started on the journey that led you to become the president of SEV and the experiences that shaped your current vision.
Spyros Theodoropoulos: My journey began out of necessity after I lost my father at a young age. Initially, I worked as an employee, gradually venturing into business with cautious steps. Over time, I followed the path that unfolded before me.
As Chairman of SEV, my vision for the Greek economy centers on increasing production. Currently, our economy relies on consumption for 75% of its output—a model that is not sustainable. While we’ve made progress in addressing fiscal deficits, our trade deficit has worsened. My priority is fostering investments, particularly those with high value-added potential, to improve our trade balance and boost production. These investments will enable us to offer higher wages and ensure social cohesion.
Our mission at SEV includes not only advocating for our members’ interests but also contributing to broader societal dialogue. We aim to introduce fresh concepts that address Greece’s future. However, achieving this vision requires collective commitment. Businesses, government, and society must align on shared principles and goals.
I believe in empowering ALL CAPABLE entrepreneurs
What role do technology and innovation play in Greece’s economic transformation?
Greece has cultivated a promising ecosystem of startups that generate significant opportunities and attract funding both domestically and internationally. However, there’s a difference between digitalization and the adoption of advanced technologies such as artificial intelligence. Currently, only 4% of Greek businesses have integrated AI into their operations.
At SEV, we prioritize helping companies embrace AI, recognizing its potential to enhance competitiveness and productivity. We are organizing a major conference to promote AI adoption and provide practical support for businesses.
Ultimately, investments, especially those that contribute to manufacturing, are the key to addressing Greece’s economic challenges. While our service sector performs well, there is still room for improvement.
How do you view the state of banking in Greece, and what is needed to support businesses?
Access to financing remains a challenge, particularly for smaller enterprises. While the cost of borrowing has risen, this is a broader European trend, and rates are expected to stabilize at around 2%. Businesses must adapt to a new reality where easy credit is no longer the norm. Banks, on the other hand, must support smaller enterprises by fostering trust and offering accessible financing solutions. However, structural issues, such as bureaucracy and delays in the judicial system, remain the primary barriers to investment.
What matters is not who has the loudest voice but the strength of a unified voice
In your opinion, what changes are required in order to better address Greece’s economic and entrepreneurial needs?
I believe that policies and incentives for growth must evolve. The new Development Law must move beyond focusing solely on job creation. This approach is outdated for two key reasons: unemployment is no longer a significant issue, and automation is reducing jobs—an inevitable and, indeed, undesirable outcome. Often, these goals conflict, and it is imperative to shift this parameter.
I also don’t believe in narrowly steering the economy toward specific sectors. Instead, I believe in empowering all capable entrepreneurs. All support and initiatives should be horizontal, offering opportunities across the board, as comparative advantages shift over time. This adaptability ensures that those with the skills and vision to succeed can move forward, regardless of their industry.
How has SEV adapted to represent the needs of Greece’s startup community?
SEV has taken the strategic decision to open its membership to startups and has established a dedicated division to cater for their needs. To date, around 100 dynamic startups have already joined the ranks of SEV. Our goal is to address their unique challenges, attract talent, and encourage Greek expatriates and foreign investors to engage with our ecosystem. We have also played a role in legislative initiatives, such as tax incentives for repatriated professionals. SEV remains open to fresh ideas and is committed to fostering innovation within Greece’s entrepreneurial community.
At AmCham Greece, we firmly believe that we are stronger together. Partnering with organizations such as SEV can be a gamechanger in strengthening ties between Greece and the US. From your perspective, how important is such a partnership?
In Greece, organizations often operate in silos despite being in close proximity. As the country’s largest business federation, SEV is dedicated to bridging these gaps through meaningful collaborations and fostering new partnerships. For example, five major regional associations are represented on SEV’s board, and we actively work with organizations such as the American-Hellenic Chamber of Commerce to address shared challenges.
What matters is not who has the loudest voice but the strength of a unified voice. By combining our efforts, we can advocate for policies and initiatives that drive growth and prosperity for both economies.
The US is a vital export market for Greece. How can the collaboration between SEV and AmCham Greece support Greek exports to the US and deepen economic ties between the two countries?
The US is Greece’s third-largest export market, following Italy and Germany, with key exports including F&B, aluminum and various manufactured goods. This underscores the importance of strengthening economic ties.
I deeply admire the directness of US businesses and believe this collaboration can facilitate dialogue and initiatives that boost Greek exports. Looking ahead, I envision SEV and AmCham Greece working together to address shared challenges and leverage opportunities, ensuring mutual benefits for both Greek and US business communities.
