Been down so long, looks like up to Greece

They have a word for it; entrepreneur;

It may not be a key indicator of the recovery and restructure of the Greek economy, but the sheer number of business start-ups to have emerged in the past few years, especially in the IT sector, is a significant sign of improvement. Start-ups seem to be springing up like mushrooms, even if experience shows nine out of 10 don't usually survive past the initial launch phase.

They also have a word for what kills your chance at success; bureaucracy;

Spiros Majátis is co-founder of the start-up Workable. His recruitment software helps companies analyze applications of potential employees. The company was founded in early 2012 and now has customers in some 30 countries. Majátis believes bureaucracy is still the biggest obstacle threatening Greek start-ups from thriving.

"A lot still needs to be done to streamline the structure of the whole system, especially with the banks," he said.

Openfund II co-founder Giorgos Tziralis is a little more confident. His advice to entrepreneurs, especially those just starting out, would be to have a little patience with Greece at this time of transition. He knows the state can be more of a hindrance than a help, but a lot has been done over the past few years, he adds, referring to the simplified process for launching a start-up.

Tziralis addd that one can even consider Openfund as part of the state, since it s funded by the government and EU-funds, he said. His suggestion for entrepreneurs?

Have patience until the cumbersome state machinery finally kicks into gear.

The attitude, it needs a little work.