Alexis Tsipras unveils economic plan for SMEs and €25 billion convergence fund

Proposals for small and medium businesses

Alexis Tsipras, president of the Hellenic Left Coalition (ELAS) and former prime minister of Greece, presented an economic framework to support small and medium-sized enterprises (SMEs) on 28 September 2026. Speaking before the board of directors of the Athens Chamber of Tradesmen (EEA) at the invitation of its president, Giannis Chatzitheodosiou, Tsipras argued that Greece requires structural changes to its productive model. He stated that seven years of governance under New Democracy failed to reform the national economy, asserting that a third four-year term for the governing party would worsen conditions for smaller businesses. Tsipras explained that the need for a shift in economic policy served as a key reason for founding ELAS.

“Political change is the only hope for small and medium-sized business.”

National Convergence Fund and capital allocation

A central proposal in the party's platform is the establishment of the National Convergence Fund, described by Tsipras as a primary investment vehicle for the coming decade. The plan schedules the fund to operate with primary capital of 4 billion euros annually, reaching 12 billion euros over a four-year legislative term. Sourced allocations include 1.5 billion euros per year from the national segment of the Public Investment Programme, 1 billion euros per year from redirected Golden Visa proceeds, and 500 million euros annually from domestic enterprise participation. Through private capital leverage, ELAS estimates the total investment capacity of the fund could reach up to 25 billion euros across four years.

Public Investment Programme1.5

Golden Visa redirection1

Domestic enterprise participation0.5

Public Investment Programme

1.5 €B

Golden Visa redirection

1 €B

Domestic enterprise participation

0.5 €B

Data from the article text

Annual primary capital4

Four-year primary capital12

Four-year leveraged investment target25

Annual primary capital

4 €B

Four-year primary capital

12 €B

Four-year leveraged investment target

25 €B

Data from the article text

Liquidity, taxation, and debt relief

Tsipras outlined a ten-tool framework intended to improve SME liquidity and access to financing. The measures include the complete and immediate abolition of the annual trade levy for all legal entities, alongside ending mandatory advance tax payments for sole proprietorships and substantially reducing them for corporate entities. To resolve accumulated private liabilities, ELAS proposed a 120-instalment repayment scheme for overdue tax and social security debts, featuring write-offs of penalties and surcharges for compliant businesses and automated clearing of mutual claims with the state. The platform also calls for lowering value-added tax on basic goods to 6% and reducing commercial energy costs by 30% by regaining a strategic public role in the Public Power Corporation.

Public tenders and fiscal commitments

Addressing market access and competition, Tsipras stated that only 6% of Greek enterprises benefited from the loan branch of the Recovery and Resilience Facility. He argued that smaller businesses face systematic exclusion from public procurement through closed tenders, direct awards, and cartelization across key sectors. To counter this, ELAS proposed reforming public procurement procedures, expanding microcredits and loan guarantees via the Hellenic Development Bank, and boosting consumer purchasing power. Tsipras maintained that all proposed initiatives are strictly costed and comply with fiscal rules, citing his administration's record in concluding international bailout programmes.

“I did not come here today to oppose the government. When it comes to small and medium entrepreneurship, the government itself has taken that on and does it better.”