The categorization of small and medium-sized enterprises for the NSRF Programs
Small and medium-sized enterprises are the driving force of Greek business, the backbone of the Greek economy, as is often mentioned and written. They constitute the majority of businesses in Greece, providing the most jobs.
The categorization of small and medium-sized enterprises into very small enterprises, small enterprises and medium-sized enterprises depending on jobs and turnover is intended to help businesses benefit from the NSRF programs and other government subsidies and to be utilized by those businesses that need it.
Note that the categorization depends exclusively on the economic activity (employees, turnover) and not on the legal form of the business.
Business Types: Very small, small and medium-sized business
Very small business
A very small enterprise is an enterprise that meets the following criteria:
- Employs fewer than 10 workers.
- Its annual turnover does not exceed 2 million euros.
- Its annual balance sheet total does not exceed 2 million euros.
The small business
A small business is a business that meets the following criteria:
- It employs fewer than 50 workers.
- Its annual turnover does not exceed 10 million euros.
- Its annual balance sheet total does not exceed 10 million euros.
The medium-sized enterprise
A medium-sized enterprise is an enterprise that meets the following criteria:
- It employs fewer than 250 workers.
- Its annual turnover does not exceed 50 million euros.
- Its annual balance sheet total does not exceed 43 million euros.
The Employees’ Criterion
To calculate a company’s employees, the following categories are included:
- Part-time or full-time employees.
- Individuals who work for the company, have a relationship of dependence and are treated as employees according to national legislation.
- Business owners (individuals).
- Partners with regular activity and remuneration.
- The following categories are not included in the number of employees:
- Trainees.
- Trainees.
- Employees on parental leave.
The Annual Turnover criterion
The Annual Turnover is determined in the following way:
- The total income received by the business from the sale of products and the provision of services from the business’s ordinary activities is calculated.
- Any discounts granted by the business to its customers are deducted from the total income.
- Annual turnover does not include VAT or other indirect taxes, which are part of the selling price of products or services, but are not collected by the business.
The Annual Balance Sheet criterion
The annual balance sheet total refers to the value of the company’s main assets. Examples of a company’s main assets include
- Cash
- Stocks
- Fixed assets, such as buildings, equipment and machinery
- Receivables, such as customer receivables
- Rights, such as intellectual property rights
The criteria for defining a small and medium-sized enterprise
The criteria (of employees, turnover and balance sheet) must be met for 2 consecutive years in order for a company to be classified as an SME.
Furthermore, it is important to know which of the 3 categories a business falls into.
Business Categories
In order to accurately define the financial data of a business, there are 3 categories of businesses: independent businesses, cooperating businesses and associated businesses. Specifically:
- Independent enterprises are those that do not have a participation in other enterprises equal to or greater than 25% of the capital or voting rights.
- Collaborating enterprises are those that have a participation in other enterprises equal to or greater than 25% of the capital or voting rights, but not greater than 50%.
- Affiliated companies are those that have a participation in other companies of more than 50%.
Submitting a File for the NSRF Programs with Business Best
Contact us directly to help you apply for the NSRF programs and secure the subsidy you are entitled to! Specifically:
- Find out about the NSRF programs available for your business.
- Develop a business plan that will help you make the most of the subsidy.
- Submit your application correctly and on time to increase your chances of approval.
Why collaborate with Business Best for NSRF programs
- We have extensive experience in submitting applications to NSRF programs.
- We are familiar with the program criteria and procedures.
- We provide you with personalized support and guidance.
Contact us today to learn more!
Fill out the form below or call us at 694 4353 461 – 211 1983 098 to schedule a meeting.