Greek columnist Giorgos Kraloglou warned political leaders on Wednesday against exploiting small and medium-sized enterprises with unfulfilled campaign promises ahead of upcoming elections.
Writing on financial news website Capital.gr on 30 September 2026, Kraloglou stated that campaign routines targeting small business owners have resurfaced without shame, continuing a 50-year tradition of empty political pledges.
Kraloglou noted that political programs claiming to support small enterprises began five decades ago under former Prime Minister Andreas Papandreou. He argued that successive post-junta governments have repeatedly promised to transform small firms into major manufacturers, yet the sector remains fragile.
Capital.gr is a leading financial news outlet based in Athens that focuses on Greek market developments, corporate news, and national economic policy. Papandreou served as prime minister during the 1980s and 1990s after founding the Panhellenic Socialist Movement, launching political campaigns centered on the slogan of social and economic change.
Foreign investment shortfall
Kraloglou emphasized that Greece's small and medium-sized economy cannot achieve lasting recovery without securing more than 200 billion euros in foreign investment. He stressed that these funds must be permanently anchored in the domestic private sector rather than channeled through state public coffers.
According to Kraloglou, economic teams within both the governing party and main opposition groups already predict that foreign capital of this scale will not materialize. He warned that without such investment, neither the broader economy nor the domestic business community can find permanent salvation.
He added that excluding roughly 150 to 200 major corporate groups, the remainder of the Greek business landscape consists entirely of small and very small companies. He expressed doubt over whether even those top 200 corporate groups will remain competitive within the European market over the next five years.
Rising operating costs
The commentary outlined four critical obstacles preventing small businesses from surviving under current market conditions. Kraloglou stated that small firms find it impossible to cope with high borrowing costs and energy prices, even following official energy tariff reductions for enterprise.
Small business organizations have requested substantial tax cuts from the government to remain solvent. However, Kraloglou predicted that any tax relief announced by officials will fall far short of the energy price reductions scheduled for announcement tomorrow.
In addition, Kraloglou criticized Greece's Special Tax System, stating that small business owners cannot keep up with its complex regulations. He noted that the current government will hand over this unchanged tax framework to whichever administration takes office after the election.
Decades of political rhetoric
Kraloglou questioned the value of campaign delegation visits, during which political representatives present economic programs and claim to understand small business needs. He argued that politicians have parroted slogans of change under both pseudo-socialism and modern liberalism for half a century without implementing effective solutions.
He concluded by asking when political leaders will demonstrate genuine understanding of economic realities and deliver practical results, asking whether small business owners must wait another 50 years for real progress.
