According to data from the Small Business Act (SBA) Fact Sheets, Slovakia’s SME sector is characterised by a significantly higher concentration of small and medium-sized businesses, in respect of the EU average, in the manufacturing sectors and integrated into Europe-wide supply chains. The rest of the SME sector however is much less competitive and in much more need of support measures to modernise. In spite of selective intervention, most notably in Environment and Entrepreneurship, 2012 marked a pause in the SBA implementation catch-up trajectory of Slovakia. Pending a new SBA implementation strategy, currently in preparation, the implementation of measures supporting the SMEs was delayed. SMEs would benefit from improvements in adopting the principle of Think small first in its decision-making and by the streamlining of insolvency procedures and contract enforcement, as well as from full implementation of the programme of 41 measures announced by the government.
Research, articles etc.
|Key indicators on access to finance|
Slovak Republic ranked 8th out of 27 countries in the 2012 SMAF Index.
For details on SMAF index and methodology please click here.
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Source: Chart compiled using ECB data
Note: Loan volumes and interest rate data for 2013 are to the period September 2013 only (due to data availability as at November 2013).
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Appendix: ACTIONS SUPPORTING ACCESS TO FINANCE FOR SMEs (PDF) [275 KB] [275 KB]