Record Business Growth in Greece: Over 63,000 New Startups in 2024

2024 marked a year of remarkable growth for Greek entrepreneurship, according to data from the General Commercial Register (GEMI) and the Union of Hellenic Chambers (KEEE). A total of 63,000 new businesses were established, reflecting an 11% increase compared to 2023, when 58,200 businesses launched, CE Report quotes Athens-Macedonian

The upward trend, consistent over the past five years, highlights Greece's economic recovery following a decade-long crisis. Startups surged by 50% since 2020, when 42,000 businesses were recorded, reaching a historic high in 2024.

For every business that closed last year, three new ventures were launched. Business closures also declined by 11%, with 22,200 companies shutting down compared to 25,000 in 2023. Most closures were seasonal or individual enterprises, often tied to retirements or business restructuring.

Leading Sectors

• Retail and Wholesale Trade: Dominating with 11,609 new ventures, especially in food retail (grocery stores, supermarkets).
• Catering and Tourism: With 9,433 startups, cafes, restaurants, and tourist accommodations flourished, reflecting tourism’s vital role.
• Technical and Scientific Professions: Professions like electricians and engineers saw 6,754 new sole proprietorships.
• Manufacturing: Around 2,500 new registrations highlight the sector’s steady presence.

Sole proprietorships accounted for 37% of new businesses, with Limited Liability Companies (LLCs) and Private Equity Companies (PECs) following closely.

The data underscores Greece's dynamic business environment and growing confidence in market stability.