| Περίληψη: | Greek companies have received a big setback to their efficiency and profitability all
these years of economic crisis, like all other sectors of the Greek economy. But what
happened to SMEs, young businesses and entrepreneurship all these years? In this
paper we try to see the efficiency of Greek SMEs and young businesses during the
economic crisis, for the years 2008-2013. We will investigate the importance and
the influence that size and age have on a firm’s efficiency and in addition we will
examine if businesses with some more entrepreneurial characteristics would have
a better growth rate during economic turmoil. We find, that the smaller size and
younger firms had an advantage in terms of growth during financial turmoil than
larger in size and age firms but only up to a point after which the larger companies
had the advantage. Conversely, it was found that companies that have more
entrepreneurial characteristics were affected negatively by the economic crisis. In
conclusion, both the small size and young age can be an advantage for SMEs in
times of financial turmoil and instead such periods can be detrimental to more
entrepreneurial firms.
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