Impact of corona crisis on SMEs in the Slovak Republic

Abstract

The current situation related to the spread of coronavirus in Slovakia is a burdensome test for everyone. Its effects will be felt mostly by entrepreneurs from the category of small and medium-sized enterprises and sole proprietors. Small and medium-sized en-terprises are a pillar of the Slovak economy. The aim of the article is to point out the initial impacts of corona crisis on SMEs in the Slovak Republic and to propose me-asures to mitigate its negative consequences. We present that 8.9% of entrepreneurs out of all active small and medium-sized enterprises had to close their operations in a peri-od of extraordinary situation. Even the part of entrepreneurs who continued in their activities and have not closed operations (57%) has a big problem with the declining demand for their products and services.

Keywords

• Small and medium - sized enterprises
• corona crisis
• financial support

Supporting Institution

University of Economics in Bratislava

Project Number

VEGA 1/0688/20

References

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