Incentives for business mergers and increasing women’s employment 2024-04-22 00:49:09

The first concerns the small size of Greek businesses in relation to the data of the European Union. The second, the low employment rate of women in our country compared to that of the EU.

These are two structural problems of the Greek economic model, the limitation of which is estimated to strengthen the competitiveness of the economy and its dynamic growth in the coming years.

Tax exemptions for mergers

On the first front, according to authoritative sources, the design of a new law with tax reductions and other incentives that will encourage mergers of small and medium-sized enterprises with each other or with other larger companies from Greece or abroad has been launched.

The goal is to increase the size of Greek businesses and thus make them more competitive in the domestic and international economic environment. Today, nearly 800,000 domestic businesses employ up to 10 workers and make up the vast majority on the country’s business map. These companies make up 94.5% of all small and medium-sized companies compared to 92.3% which is the corresponding percentage in the EU.

Among the measures being discussed are incentives to facilitate the listing of the merged companies on the Stock Exchange’s main market, such as greater cost discounts. Also, tax incentives are being studied for investors who will place capital in the merged companies as well as an extension of the tax exemption years for the profits of innovative companies.

The employment of women

On the front of women’s employment, Greece remains at the bottom of Europe. Based on the data, the employment rate for women aged 20-64 is 55%, while for men it reaches 77%. Unemployment among women, based on data from February 2023, stood at 14.2% compared to 8.4% for men.

This is a particularly important percentage of the population that is “missing” from the labor market at a time when the country is in need of workers in critical sectors.

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It is being considered, among other things, to give incentives that will concern the subsidization of contributions or wages for the companies that will hire women. The plan will mainly concern the integration into the labor market of women who have never worked before and, secondly, the reintegration of women who have been out of the market and cannot return either because they cannot find jobs commensurate with their qualifications or a satisfactory salary.

It is noted that the low employment rate of women in the labor market is highlighted in almost all reports of international organizations as one of the important problems of the Greek economy.

Source: RES-MPE

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