Why are family-run businesses common in Greece?

The prevalence of family-run businesses in Greece is deeply rooted in the country's strong family structure, where the extended family and the obligation for mutual support remain of the utmost importance.1

This cultural emphasis on family ties extends into the economic sphere, where the vast majority of businesses operate as small, family-run enterprises. This model is particularly prominent in the shipping industry, which is dominated by tightly knit clans of families. While this structure provides a foundation of support, it has also been noted that the family-oriented nature of industry can act as an impediment to modernization. Furthermore, the functioning of society and business is often influenced by mesa (connections) and rouspheti (the reciprocal dispensation of favors), which reinforce these traditional social and economic networks.1