There is a new boost to Greek entrepreneurship thanks to an important change in the licensing process of low-risk industrial and manufacturing activities related to approximately 900 professions; a simple notification to the General Electronic Commercial Registry (GEMI) suffices to start-up a low-risk business, the Ministry of Development and Competitiveness announced yesterday (24.11). Businesses will need to keep a file with all necessary documents such as the construction permit, fire safety certification etc, in case of an inspection by the authorities.

The decision affects about 25% of business activity and affects sectors that account for 14,3% of the GDP of the Greek economy. It also puts an end to a costly and timing-consuming licencing process and saves up to 1,500 per business depending on the activity.