Environment for small firms worsening, says Business Alliance

Small and medium-sized enterprises are the backbone of the Slovak economy, constituting 99.9 percent of all businesses, and these small businesses employ nearly three-quarters of all those in the private sector, contribute more than half of total revenues as well as profits to the corporate economy of Slovakia, according to the Business Alliance of Slovakia. Nevertheless, the Alliance believes in the long term they face several systemic issues that cause stagnation in their development. "Our surveys show that according to the perception of entrepreneurs, the business environment in Slovakia is deteriorating and to conduct business is more difficult", said project manager of the Business Alliance of Slovakia Peter Kremský. He states that this is clearly manifested in labour market indexes, where large companies are planning to create new jobs, but the smaller ones only maintain them, or cancel them.