After a prolonged period of adversity which was particularly challenging for entrepreneurship, the Greek economy is now laying the foundations for its transition into a new period of significant growth prospects, while also taking protective measures against possible pressures resulting from the current unpredictable international environment.
Businesses today have an important opportunity to align with global trends and improve their competitiveness, trade openness, quality, and innovative nature with the Recovery and Resilience Fund (RRF) as their main vehicle. Taking advantage of the investment opportunities offered through the National Recovery and Resilience Plan, Greece 2.0, domestic entrepreneurship and especially small and medium-sized enterprises can achieve goals across a number of crucial areas such as digital transformation, green transition, extroversion, innovation through research and development, and the creation of economies of scale through partnerships, acquisitions and mergers. To a large extent, what is required today of businesses is that they efficiently utilize the available financial tools toward their gradual transformation, which will, in turn, create further development prospects and will additionally help them expand their activities.
The significant advantages of the Recovery and Resilience Fund make it a key financial tool for business transition into the future
The significant advantages of the Recovery and Resilience Fund — such as long-term borrowing combined with low and fixed interest rates, the wide range of eligible costs and therefore the financing of multiple activities, as well as considerable investment resources — make it a key financial tool for business transition into the future. For large companies, inclusion in the National Recovery and Resilience Plan and utilization of its financial and institutional tools will enable them to implement new investment plans as well as to strengthen their innovation and extroversion. For small and medium-sized enterprises, the challenge of eligibility in the financial instruments of the National Recovery and Resilience Plan goes through their selected strategies and their immediate transformation and modernization, which will give them access to financing opportunities and to new investments. In addition, the impact of the Recovery and Resilience Fund will create a favorable and positive investment environment for the Greek economy, offering indirect benefits for businesses. The growth of investments and reforms will result in the creation of new jobs and will enhance productivity, mainly through the growth of private investment, resulting in an increase of real GDP in the coming years.
The role of audit and advisory firms is crucial for the success of the Greece 2.0 National Recovery and Resilience Plan. At SOL Crowe, we have further developed our services, aiming to support businesses in this critical time. We support all phases of the processes relevant to financing and strengthening investment projects. With our expertise and experience in the implementation of projects related to the full range of funding requirements from the Recovery and Resilience Fund, we support those activities that contribute to business transformation and to the transition of Greece and Europe to a green, digital and sustainable era.
