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2004 | Finanse w dobie integracji europejskiej | 367--370
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Small and Medium - Sized Enterprises Fnancing During the Slovakia Accesion to the European Union

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Slovakia, as one of the new members of the European Union, had to fulfil many demanding requirements during the transition period. One of them was to bring enterprises into line with Community standards. The fact how enterprises, especially SMEs, in Slovakia will be able to cope with the competitive pressure and market forces during the EU accession will have a significant influence on the character and duration of the accession period. However, the impact of competitive pressure will be probably stronger in case of larger enterprises compared to small ones providing the local services. Competitiveness of individual countries as well as of the whole Europe depends strongly on the small businesses, which are a key source of jobs, business ideas and a main driving force for entrepreneurship. Micro, small and medium-sized enterprises are socially and economically important, since they represent 99% of all enterprises in the EU, provide around 65 million jobs and contribute to entrepreneurship and innovation. However, they face particular difficulties, which the EU and national legislation try to redress by granting various advantages to SMEs. Access to capital represents one of the most significant barriers to their development. (fragment of text)
  • University of Economics in Bratislava, Slovakia
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