Two out of three entrepreneurs are planning to hire more full-time employees over the next 12 months, while at the same time, eight out of ten express concern about rising operating and labor costs, according to EY Greece’s entrepreneurship survey.
Faced with a global environment of constant change and growing challenges, entrepreneurs in Greece may be worried about increasing costs but they continue to invest, placing emphasis on innovation. At the same time, they are struggling to find candidates with the necessary skills and experience.
More specifically:
- Two in three entrepreneurs (67%) plan to hire more full-time employees in the next 12 months
- Eight in ten entrepreneurs are concerned about higher operating (83%) and labor costs (81%)
- 76% estimate that artificial intelligence will significantly enhance the operational functions and productivity of their organizations, however 27% have not made any relevant investment in the last three years
Respondents are divided regarding the current conditions for entrepreneurship in the country, with 41% considering them as “favorable” and 39% as “unfavorable.”
Strong investment intent, with a focus on innovation
Entrepreneurs in Greece plan to invest more than their CESA counterparts in the next 12 months, with a focus on upgrades or new IT systems and software applications (65%) and the purchase or upgrade of equipment or machinery (62%). They will also invest in the creation of new facilities (45%). However, economic risk and market uncertainty on the one hand (45%), and geopolitical instability (41%) on the other, could hinder these plans.
