3 SMEs and Green Growth: The Effectiveness of Support Mechanisms and Initiatives Matters

The aim of this chapter is to examine the way in which small- and medium-sized enterprises (SMEs) adapt their financial and operational planning in order to develop green entrepreneurship. This is examined through two different practices which may be followed by companies: policies and strategies that lead enterprises to energy upgrade and policies and strategies relating to environmental protection. This chapter draws upon the dataset from 100 Greek SMEs. The process of data collection was conducted by delivering questionnaires to the sample of companies in question. The novelty of this research, in comparison with other surveys, is that the level of adopting green strategies is approached not only in the fields of energy or environmental efficiencies but also attempts to introduce techno-economic parameters with related items in the questionnaires delivered to the SMEs. Hence, a more thorough analysis for the greenness of Greek SMEs is discussed based on 10 (i.e. techno-economic) research hypotheses. The results indicate that the SMEs should be supported more effectively by the Greek government and European Union through funding initiatives. The funding initiatives do not have the expected results so far towards this direction. However, it seems that the SMEs realize the importance of green strategies as they believe the consumers are willing to pay more for green products.