The Effects of the Financial Crisis on the Performance of Greek SME's
Zairis G. Antonios

Abstract
Small and Medium-sized Enterprises are considered key components of economic growth, income generation, export revenues and employment creation in developing, transitional and high income countries. Their impact as a group is considered to be extremely important. The consequences of the European debt crisis, however, have created a very tough environment for SME's. This paper aims to provide an overview on the subject of SME's, and analyse their role and performance in Greece. The results showed that SMEs account for a lion's share of the enterprises operating in the Greek economy, and that the severe recession has clearly affected their ability to survive. Some positive signs have been presented, but even the slightest recovery seems fragile.

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