10 Apr Interview with Anastasios Spanidis, Group President and CEO, Growth, Prosperity & Abundance (G.P.A), Greece
As a business with its pulse on the economy of the country, how have you felt Greece’s economic comeback since the Covid pandemic? How has this translated for an agile company like G.P.A?
For the first time in many years, we have a pro-business government paving the way for the private sector to produce in a conducive environment, aiding them in reaching their goals. When the private sector faces fewer obstacles, it can contribute to societal prosperity. While the economic recovery post-depression was expected, the government’s crucial steps and support played a significant role.
The historical issue of excessive public sector expenses in Greece has improved, and the government’s assistance to the private sector has created an environment conducive to investments and wealth creation. Additionally, digitalization has reduced public sector costs, making expenses and payments more reasonable.
The three key pillars are supporting entrepreneurship, lowering operational costs through digitalization, and embracing Industry 4.0 to track and manage expenses. The economy is thriving, and predictions indicate sustained growth for the next 4-5 years, coupled with EU financing programs for Greece. Multinational companies returning to Greece further contribute to a competitive economic environment.
Generation Y has come a long way since it was founded as a two-person operation in a garage. In 2022, the company became a business group under the name G.P.A. following strategic investments in advertising, insurance, digital consultation, and ESG initiatives. How did you come to establish your company, and what have been the key factors behind its growth?
We have been in the market for almost a quarter of a century, starting from scratch when I was 18. We pioneered digital transformation and innovation, gaining recognition for our global mindset. After 20 years, we expanded to 24 countries, establishing offices in 10.
To better serve our clients, we evolved into G.P.A., a Growth, Prosperity, and Abundance ecosystem of companies. G.P.A. offers diverse services, aiming to be a one-stop-shop for B2B solutions. Our growth is attributed to acquiring the best companies in areas like digital transformation, upskilling and reskilling, financial consulting, advertising, ESG initiatives, insurance, AR/VR creation and more.
Our goal is to expand to over 50 companies, focusing on top-notch talent, global experience, and deep know-how. G.P.A.’s mission is clear: to facilitate growth for our partners, ensuring prosperity for society and abundance for humanity.
The last few years have seen an extraordinary advancement of technologies, like AI, big data, blockchain, and so on. How is G.P.A. keeping abreast with technological acceleration and incorporating the latest technologies? How is G.P.A. working to pioneer new concepts and solutions for clients?
Innovation thrives at the intersection of education and entrepreneurship-friendly environments. To keep pace with technological advancements, G.P.A. has created an environment where risk-taking and experimentation are encouraged. We invest significantly in upskilling and reskilling our people, allocating a substantial budget of €4.2 million for research and development (R&D) into new products and services.
By connecting real market needs with our innovative solutions, we target specific areas with purpose. While technology evolves rapidly, we emphasize expertise and specialization, understanding that deep diving into various technologies is essential. AI is reshaping professional and everyday life, and embracing this change excites us. We believe that through innovation and change, better solutions emerge for our partners, contributing to ongoing improvement.
According to the OECD, around 95% of businesses in Greece are considered micro-enterprises, with SMEs generating more than 80% of the country’s employment. As a recognized leader in entrepreneurship in Greece, how would you assess the level of support received by entrepreneurs in Greece? What more can the government and leading public sector companies do to assist new entrepreneurs and make Greece a more innovative ecosystem?
The key is collaboration and co-creation. While supporting micro-businesses and family businesses is essential, the focus should be on creating an environment that fosters collaboration and growth. Rather than solving problems, the government should pave the way for businesses to expand, hire more people, and export more.
The narrative needs to shift from sustaining businesses to encouraging growth. Initiatives should aim at providing opportunities for businesses to become larger, more innovative, and globally competitive. Looking at successful examples like Israel and South Korea, Greece can aspire to become a global leader in specific sectors. The government’s role should be to support and incentivize businesses, enabling them to create a significant impact on the economy.
What kind of digital opportunities has the digital revolution opened for SMEs in Greece and beyond? How has it changed the playing field for entrepreneurs?
In the next five years, companies that do not prioritize digital transformation will cease to exist. The pace of technology adoption is crucial, and Greece must seize the benefits faster. Government initiatives, like deducting R&D expenses, are commendable, but more efforts are needed to educate businesses about technology. Miracles can happen when businesses embrace change. The global market has become accessible, allowing companies to work from anywhere for clients worldwide.
SMEs in Greece need a global mindset, exploring opportunities beyond domestic boundaries. The advantage of technology is significant, and Greece should leverage initiatives to accelerate digitalization. The challenge lies in making such initiatives more known and ensuring that businesses are educated about the potential benefits of technology.
The Greek government is now looking to invest heavily in education to create a more sustainable labor market. How would you assess the level of talent within the digital sector in Greece? What gaps in knowhow are we seeing?
The brain drain was a significant challenge, but the return of talent, coupled with the fresh perspective of Generation Z, marks a positive shift. Talent availability is not an issue; instead, it reflects a growing economy. Companies must adapt by offering competitive salaries and benefits. The government plays a crucial role in supporting businesses to attract and retain talent.
The global market has opened new avenues for talent acquisition, and businesses in Greece should explore opportunities beyond domestic borders. The focus should be on purpose-driven employment, aligning with the changing expectations of the workforce. Talent is a critical asset, and businesses need to innovate in attracting, retaining, and nurturing talent to drive sustainable growth.
G.P.A. has collaborated with Business College of Athens to offer a Master’s in digital marketing. How is the company contributing to academia and educating youth in the country?
We bridge the gap between academia and the real market. This initiative, supported by the University of West London, provides tangible case studies with the real market. By sharing real experiences from conglomerates, we inspire young minds to think big and make connections with those who have achieved success. It is a commitment to invest in the next generation and align academia with practical business experiences.
The US has traditionally been the country’s eighth-largest source of FDI, with major players such as Google, J.P. Morgan, Meta, Microsoft, and Pfizer all participating in the market. How significant is the US market for the company in terms of both clients and partners in knowhow and digital transformation?
I view the US as the EU’s closest ally, transcending not just military aspects but also in culture, business, ethics, and beyond. Generation Y has had a presence in the US since 2010, establishing a strong foundation. Collaborating with prominent entities like Pulte Homes, a construction giant, illustrates our deep engagement.
We have executed sophisticated integrations with organizations such as Johns Hopkins University and CEO Coaching International, a distinguished executive coaching firm. Additionally, ROI MAT 360 growth marketing agency, our firm aiming to help SMEs to grow initiated an affiliation partnership with Public Worldwide Inc in New York. Adopting a global mindset is crucial.
The US, being our closest ally and the largest market, is undeniably vital. It is not a panacea or a shortcut; it is an additional market, contingent on leadership within our niche. The US, in contrast to Europe’s fragmented markets, fosters innovation, encapsulated in the saying: “China industrializes, the US innovates, and the EU regulates.” While regulations have their role, injecting more innovation into the mix is preferable.
I am also proud to be Vice President of European Business for CEO Coaching International where we connect former, battle tested CEOs, to the European market providing business guidance through coaching services. CEO Coaching International has created a tangible system to help companies grow towards their goals.
Indicatively I shall mention that we have professionals that have been in leading positions from Goldman Sachs, Electronic Arts, Nestle, Colgate-Palmolive and many more world-class companies ready to help CEOs in Europe achieve their goals.
You are already present in 10 countries. What type of future do you see for your company? What are your growth and expansion plans, and what are your priority markets?
We already export to 50 countries, covering a quarter of the world. Maintaining offices in 10 countries, although a pre-COVID rationale, is now obsolete as remote collaboration becomes the norm. Our goal is sustained growth, recognizing that the sky is not the limit; there is always room for expansion.
However, growth must be sustainable and value-driven for our clients. Sacrificing everything for growth is unnecessary; growth should be an enduring process. With significant potential in the US and the EU we will persist in our successful strategies. For G.P.A., we aspire to encompass more than 50 countries in our service supply chain, positioning ourselves as the one-stop-shop for client services. This approach offers significant economies of scale, reducing expenses for our clients across commoditized and innovative aspects alike.
Imagine having a comprehensive solution provider that not only nurtures and grows your business, but also streamlines costs, attracts more clients, and provides education and implementation in technology. By understanding our clients’ goals, we facilitate their achievement.
Your success story is quite inspirational. Tell us a little bit about your personal top priorities as Group President and CEO of G.P.A?
The responsibility that comes with this position is substantial, considering the various stakeholders who rigorously judge our actions. Primary among these is our commitment to employees within the G.P.A. group of companies. Our aim is to craft career paths, supporting them in achieving the lives they dream of.
Equally significant is our responsibility to clients, recognizing that behind every company are individuals with dreams and aspirations. Our approach to assisting them must be meticulous and considerate. There is a responsibility to suppliers and communities, emphasizing participation, a trait I admire in the US. They prioritize community engagement, attracting numerous global communities.
Managing diverse stakeholders requires careful consideration and harmony maintenance. Adopting an active role is essential. I often assert that it is a giver’s game. Somehow, when you give, the returns are manifold because, ultimately, humanity is inherently good.
What is your final message to the readers of USA Today?
Greece offers a splendid environment for wealth creation, enjoyment, family life, or whatever one desires. It is a unique blend, not clinical but full of opportunities – the last human zoo. Concerning G.P.A., a commitment to thinking big is ingrained in our DNA.
We stand ready to aid, irrespective of how audacious or grand the aspiration or idea may be. It is our purpose. Regarding humanity, we are entering an era of collaboration and co-creation. Let us explore how we can mutually contribute to even greater success, fostering a better way of life for all.