Financial Times
December 19, 2016
The challenges faced by Greece’s many small companies have mounted as the financial crisis has gone on. The country’s manufacturers in particular have been hit hard by falling domestic sales and a desperate lack of bank credit to finance export drives.
“Small producers are among the worst hit by capital controls and the squeeze on bank liquidity, especially companies that have to import raw materials,” says Kostis Michalos, chairman of the Athens chamber of commerce and industry.
Yet small companies in sectors such as food and beverages and specialised plastic products are improving their international competitiveness by targeting niche markets.
The makers of Tuvunu, a low-calorie soft drink, uses Greek mountain tea, a local herb, as the raw material for making a rival to international iced-tea brands, doing away with the need for imported raw materials.
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