2.
 Institutions in all countries as well as the institutional environment always had a major role in the economic development of countries and firms (Acemoglu et al., 2002).According to (North, 1992; 2005,Peng, 2010) is indicated that the nature and dynamism of a country’sformal institutional environment can affect its economic activities and almost theseinstitutions reflect “rules of the game” (North, 1990, p.3).Basically a protected legal system can help in the financial system in many levels (Tarullo,2019). So, it can be assumed that problems in legal institutions or possible changes in the current legal environment, with remaking a more appealing to businesses institutional system would be in one of the country’s first and major tasks for a newer age modernized state and system. Although it is also admitted that the overall technologicaladvances and institutional changes have been accepted as two main pillars of globalization (Cuervo-Cazurrra et al., 2017) and it’s obviously a reason that in many countries Small and Medium Businesses haven’t gathered an extreme governmental support due to institutional challenges in Greek institutional system.Amendments to laws and new legislationswould be a major step for a small and medium business in Greece to develop its export capacity. According to OECD economic report in 2020 about Greece, it is discovered from the research that the reducing barriers to formal employment will support inclusiveness and growth especially during the first years following reformsand thatGreece’s tax system is characterized by high statutory tax rates – especially for personal income taxes, social insurance contributions (discussed in Chapter 2), and for indirect taxes – a narrow base and patchy complianceas well as that is referred also that Improving the efficiency and predictability of the justice system is key to improving the business environment and increasing investment, particularly from foreign sources (OECD Library | OECD Economic Surveys: Greece 2020", 2021).For this reason it can be argued that it is very important to check and find whether these institutional barriers could be a barrier, knowing that this omission has remained for a long time, despite the strong view that institutional pressures in the local environment may also influence SMEs’ internationalization process (Cheng & Yu, 2008).Especially when it comes to Greek institutional environment where law system is growing and changeable within the years.
So, it can be assumed that problems in legal institutions or possible changes in the current legal environment, with remaking a more appealing to businesses institutional system would be in one of the country’s first and major tasks for a newer age modernized state and система.