The critical factors shaping entrepreneurial framework. The case of Greece.

Entrepreneurship is gradually becoming a critical factor contributing in global economy’s growth. Academic research and international organizations have recognized entrepreneurial activity as a driver for economic enhancement and prosperity. This paper comprises of a primary quantitative research which examines the views of key company representatives in relation to how entrepreneurship and innovation work in Greece, in connection with the actual practices applied in the respective companies. Furthermore, it also aims to examine the critical factors that determine entrepreneurship which in turn leads to economic growth and prosperity. We will present the results and conclusions of the research and we will try to propose a clear definition of entrepreneurship, to highlight the determinants that affect entrepreneurship in Greece and to emphasize the strategies that will boost the successful and rapid flowering of entrepreneurship in our country, with more new and viable businesses that are ready to enter in opening markets and embark on creative or innovative ventures for commercial exploitation on a larger scale. Through the review of academic research and the theoretical background in combination with quantitative research we will suggest some policies that will play an essential role in supporting and encouraging entrepreneurship in Greece and will help our country to become more competitive against the global economies in order to escape quickly from the economic crisis and get back on development track. In the modern and constantly changing environment, the pressure of competition suffered by all economies, mainly due to globalization, has become evident. The changes that have occurred have led to new insights into the functioning of the economy, shifting the emphasis from the public to private sector, from protection to competition from the closed areas in the open economy. As a result, all these changes have brought to the fore an interest in entrepreneurship, fueling the academic and political debate about the importance of entrepreneurship, the conditions governing it and the factors affecting it. Keywords: Entrepreneurship, Critical Factors, Development, Growth Greek Market