{"id":6184,"date":"2022-10-18T08:39:22","date_gmt":"2022-10-18T08:39:22","guid":{"rendered":"https:\/\/dev-espa.summerize.io\/recovery-fund-vehicle-for-new-investments-by-smes\/"},"modified":"2023-08-02T09:13:03","modified_gmt":"2023-08-02T09:13:03","slug":"recovery-fund-vehicle-for-new-investments-by-smes","status":"publish","type":"post","link":"https:\/\/espa.io\/en\/recovery-fund-vehicle-for-new-investments-by-smes\/","title":{"rendered":"Recovery Fund: &#8220;Vehicle&#8221; for new investments by SMEs"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/espa.io\/wp-content\/uploads\/2023\/06\/tameio-anakampsis-oxima-gia-nees-ependyseis-apo-tis-mme-1024x570.jpeg\" alt=\"\"\/><\/figure>\n\n<p><strong>Determined to invest in the next day,<\/strong> using the full range of available resources (such as the  <strong>Recovery Fund<\/strong>) appear  <strong>Greek SMEs<\/strong>. 86% of those that intend to make at least one investment in the next five years.  <strong>of the SME sector<\/strong>. Percentage that is by  <strong>10% higher compared to SMEs<\/strong> that made investments <strong>the previous five years.<\/strong><\/p>\n\n<p>This conclusion is drawn from the six-monthly survey of 600 SMEs carried out by <strong>\n  <a href=\"https:\/\/www.nbg.gr\/el\/omilos\/meletes-oikonomikes-analuseis\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Economic Analysis Division of the National Bank of Greece<\/a>\n<\/strong>, according to which the<strong>interest of SMEs in the use of the Recovery Fund<\/strong> is <strong>high<\/strong>, with medium-sized enterprises being the main beneficiaries. At a <strong>rate of 55%<\/strong> &#8211; approximately 1 in 2 &#8211; declares that they <strong>will participate in the actions of the Fund.<\/strong><\/p>\n\n<p><strong>The willingness to invest through the Recovery Fund from <a href=\"https:\/\/espa.io\/en\/business_size\/medium\/\" target=\"_blank\" rel=\"noreferrer noopener\">medium-sized<\/a> <a href=\"https:\/\/espa.io\/category_of_beneficiary\/epixiriseis-epidotisi\/\" target=\"_blank\" rel=\"noreferrer noopener\">enterprises<\/a> is increased<\/strong> by 4% <strong>compared to<\/strong> that observed in the <strong>previous NBG survey.<\/strong> The estimated amount <strong>of their investment plans has also increased<\/strong>, which amounts to <strong>5.6 billion euros<\/strong> (compared to 5 billion euros in the previous semester). <strong>39%<\/strong> of these, however, <strong>correspond<\/strong> to <strong>initial stage investment plans<\/strong>.<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"h-&#x3B4;&#x3B9;&#x3C3;&#x3C4;&#x3B1;&#x3BA;&#x3C4;&#x3B9;&#x3BA;&#x3AD;&#x3C2;-&#x3BF;&#x3B9;-&#x3C0;&#x3BF;&#x3BB;&#x3CD;-&#x3BC;&#x3B9;&#x3BA;&#x3C1;&#x3AD;&#x3C2;-&#x3B5;&#x3C0;&#x3B9;&#x3C7;&#x3B5;&#x3B9;&#x3C1;&#x3AE;&#x3C3;&#x3B5;&#x3B9;&#x3C2;\"><strong>Very small businesses are hesitant<\/strong><\/h2>\n\n<p>The <strong>increased investment<\/strong> willingness of medium-sized enterprises <strong>compensates<\/strong> for the <strong>decrease<\/strong> in the <strong>mobilization of <a href=\"https:\/\/espa.io\/en\/business_size\/very-small\/\" target=\"_blank\" rel=\"noreferrer noopener\">very small<\/a> enterprises<\/strong>. The <strong>reduction<\/strong> <strong>amounts to 9%<\/strong> compared to the previous semester. The <strong>estimated<\/strong> <strong>amount<\/strong> <strong>of investments<\/strong> corresponding to them is also <strong>reduced.<\/strong> The amount is calculated <strong>3.7 billion euros<\/strong> (compared to 4.5 billion euros in the previous semester). <strong>65%<\/strong> of these <strong>concern projects<\/strong> which are still at an <strong>early stage.<\/strong><\/p>\n\n<p>Fixed end at <strong>49%<\/strong> is the <strong>percentage<\/strong> of small businesses that intend <strong>to make use<\/strong> of the actions from the Recovery Fund. At the same time, the total <strong>amount<\/strong> of investments <strong>increased<\/strong>, which is <strong>estimated<\/strong> at <strong>5 billion euros<\/strong>. In the <strong>previous semester<\/strong>, this amount amounted to <strong>4,7 billion euros<\/strong>.<\/p>\n\n<p>According to the conclusions of the research, very small businesses prioritize <strong>their participation<\/strong> i<strong>n other investment programs<\/strong>, such as:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong><a href=\"https:\/\/espa.io\/en\/aid_type\/nsrf\/\" target=\"_blank\" rel=\"noreferrer noopener\">NSRF actions<\/a><\/strong><\/li>\n\n\n\n<li><strong>development law<\/strong><\/li>\n\n\n\n<li><strong>or other programs<\/strong><\/li>\n<\/ul>\n\n<p>The percentage for <strong>very small businesses<\/strong> is even <strong>comparatively higher<\/strong> (<strong>34%<\/strong> against <strong>24%<\/strong> of medium ones).<\/p>\n\n<p>In general, <strong>medium-sized enterprises are targeted to a greater extent for loans from the Recovery Fund<\/strong> (67% of the sector, compared to 53% of very small ones). On the contrary, <strong>very small businesses<\/strong> show a stronger interest <strong>in other support programs<\/strong>. 1\/3 of them intend for the <strong>first time<\/strong> to participate in <strong>NSRF or Development actions<\/strong>.<\/p>\n\n<p>Of the SMEs that express an interest in the <strong>Recovery Fund<\/strong> (47% of SMEs), <strong>50%<\/strong> wish to <strong>combine<\/strong> it with some <strong>other tool<\/strong>. At the same time, an additional <strong>13%<\/strong> of the sector shows an exclusive preference <strong>for other investment programs.<\/strong> Thus, the total interest in investment support is formed at <strong>60% of SMEs.<\/strong><\/p>\n\n<p>A common conclusion according to the EIB is that:<\/p>\n\n<h5 class=\"wp-block-heading\" id=\"h-&#x3BF;&#x3B9;-&#x3B5;&#x3BB;&#x3BB;&#x3B7;&#x3BD;&#x3B9;&#x3BA;&#x3B5;&#x3C2;-&#x3B5;&#x3C0;&#x3B9;&#x3C7;&#x3B5;&#x3B9;&#x3C1;&#x3B7;&#x3C3;&#x3B5;&#x3B9;&#x3C2;-&#x3B5;&#x3BC;&#x3C6;&#x3B1;&#x3BD;&#x3B9;&#x3B6;&#x3BF;&#x3BD;&#x3C4;&#x3B1;&#x3B9;-&#x3B1;&#x3C0;&#x3BF;&#x3C6;&#x3B1;&#x3C3;&#x3B9;&#x3C3;&#x3BC;&#x3B5;&#x3BD;&#x3B5;&#x3C2;-&#x3BD;&#x3B1;-&#x3B5;&#x3C0;&#x3B5;&#x3BD;&#x3B4;&#x3C5;&#x3C3;&#x3BF;&#x3C5;&#x3BD;-&#x3C3;&#x3C4;&#x3B7;&#x3BD;-&#x3B5;&#x3C0;&#x3BF;&#x3BC;&#x3B5;&#x3BD;&#x3B7;-&#x3BC;&#x3B5;&#x3C1;&#x3B1;-&#x3B1;&#x3BE;&#x3B9;&#x3BF;&#x3C0;&#x3BF;&#x3B9;&#x3C9;&#x3BD;&#x3C4;&#x3B1;&#x3C2;-&#x3BF;&#x3BB;&#x3BF;-&#x3C4;&#x3BF;-&#x3C6;&#x3B1;&#x3C3;&#x3BC;&#x3B1;-&#x3B4;&#x3B9;&#x3B1;&#x3B8;&#x3B5;&#x3C3;&#x3B9;&#x3BC;&#x3C9;&#x3BD;-&#x3C0;&#x3BF;&#x3C1;&#x3C9;&#x3BD;\"><strong>&#8220;Greek businesses appear determined to invest in the next day, utilizing the full spectrum of available resources.&#8221;<\/strong><\/h5>\n\n<p>The criticality of the Fund in maintaining the investment awakening of the Greek business sector is made evident by the fact that <strong>15%<\/strong> declare that they <strong>invest<\/strong> precisely because <strong>they have access to these resources<\/strong>. A further <strong>32%<\/strong> say they are <strong>facilitated<\/strong> by access.<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"h-&#x3C9;&#x3C1;&#x3B9;&#x3BC;&#x3AC;&#x3B6;&#x3BF;&#x3C5;&#x3BD;-&#x3C4;&#x3B1;-&#x3B5;&#x3C0;&#x3B5;&#x3BD;&#x3B4;&#x3C5;&#x3C4;&#x3B9;&#x3BA;&#x3AC;-&#x3C0;&#x3BB;&#x3AC;&#x3BD;&#x3B1;\"><strong>Investment plans are maturing<\/strong><\/h2>\n\n<p>Based on the conclusions of the survey, <strong>1 in 4 companies<\/strong> that intend <strong>to use the<\/strong> <strong>Recovery Fund<\/strong> declares that they now have mature investment plans (from <strong>1%<\/strong> in the previous semester), of estimated value <strong>3.7 billion euros<\/strong>. As for the rest <strong>of the projects<\/strong> (with total investments estimated to potentially <strong>approach<\/strong> 1<strong>4 billion euros<\/strong>), 1\/5 of the sector is at the stage of drawing up its investment plans (compared to 17% in the previous semester), while the remaining <strong>55%<\/strong> is still at a ve<strong>ry early stage<\/strong> (evaluating its alternatives) and increasing, as the EIB observes &#8221; <strong>the uncertainty of the implementation of the specific plans&#8221;.<\/strong><\/p>\n\n<p>So with the majority of the sector having investment plans in <strong>still early stage<\/strong>, must be emphasized <strong>need to speed up investment training and approval<\/strong>, notes the  <a href=\"https:\/\/www.nbg.gr\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>EIB<\/strong><\/a>, &#8220;since the limited time horizon of the actions from the  <strong>Recovery Fund<\/strong>  (until 2026) is now added and  <strong>the cycle of ECB benchmark interest rate hikes<\/strong>, which is expected to lead to an increase in financing rates and therefore the cost of investments&#8221;.<\/p>\n\n<p>Despite the improvement in preparedness, it is important, according to <strong>NBG<\/strong>, the <strong>need to accelerate the investment plans<\/strong> given both the finite duration of the loans (until 2026) and the <strong>expected increase in financing costs<\/strong> (increase in ECB reference rates by 125 bps . since last July).<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"h-&#x3C0;&#x3C1;&#x3AC;&#x3C3;&#x3B9;&#x3BD;&#x3B5;&#x3C2;-&#x3B5;&#x3C0;&#x3B5;&#x3BD;&#x3B4;&#x3CD;&#x3C3;&#x3B5;&#x3B9;&#x3C2;-&#x3B3;&#x3B9;&#x3B1;-&#x3C4;&#x3BF;-&#x3C4;&#x3B1;&#x3BC;&#x3B5;&#x3AF;&#x3BF;-&#x3B1;&#x3BD;&#x3AC;&#x3BA;&#x3B1;&#x3BC;&#x3C8;&#x3B7;&#x3C2;\"><strong>Green investments for the Recovery Fund<\/strong><\/h2>\n\n<p><strong>He makes more special reference<\/strong> to green investments. Although they are a <strong>catalyst<\/strong> for the competitiveness and resilience of the economy, they show a relatively low degree of preparedness. <strong>15% of these projects<\/strong> are mature compared to 20% on average in the remaining eligible categories. In part this is due to increased <strong>complexity<\/strong> of <strong>green investments<\/strong>. Infrastructure <strong>investments<\/strong> are often required first (e.g. network availability for net metering installation), while at the same time the increased cost of construction (+12% compared to 2021) acts as an inhibitor to the creation of new green facilities.<\/p>\n\n<p><a href=\"https:\/\/www.espa.io\/epidotisi\/arrange-a-call\/\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Determined to invest in the next day, using the full range of available resources (such as the Recovery Fund) appear Greek SMEs. 86% of those that intend to make at least one investment in the next five years. of the SME sector. Percentage that is by 10% higher compared to SMEs that made investments the 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