Supporting SMEs in Cyprus: Proposals for Growth

Small and medium-sized enterprises (SMEs) are the backbone of the Cypriot economy, creating jobs and supporting local production. However, they face challenges such as increased costs and bureaucracy.

Elena Kousiou Hatzidimitriou proposes measures to strengthen SMEs, such as reducing bureaucracy through digital services, improving access to finance through European instruments, and providing tax and digital incentives.

She refers to examples from Portugal (Simplex Portugal) and Spain (Instituto de Crédito Oficial) as successful models of administrative reform and financial support. The importance of the "Digital Transformation of SMEs" program in Greece is also highlighted.

Supporting SMEs is considered a strategic choice for the development of Cyprus, creating opportunities and enhancing competitiveness.