Research Article
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Impact of corona crisis on SMEs in the Slovak Republic

Year 2020, Volume: 6 Issue: 2, 150 - 156, 30.06.2020
https://doi.org/10.24289/ijsser.754130

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.

Supporting Institution

University of Economics in Bratislava

Project Number

VEGA 1/0688/20

References

  • Berger, N. A. - Udell, F. G. (2002). Small Business credit Availability and Relationship lending. The Economic Journal, 112(477), F32-F53.
  • Covaci, B. (2008). Credit Risk in Financing SME in Romania. Bucharest: SpiruHaret Uni-versity.
  • ECB (2018). Survey on the Access to Finance of Enterprises in the euro area. Retrieved from https://www.ecb.europa.eu/stats/ecb_surveys/safe
  • Monitoring of Business Environment. (2020, March 31). Analysis of SMEs directly en-dangered by pandemics. Retrieved from: http://monitoringmsp.sk/2020/03/31/analyza-msp-priamo-ohrozenych-pandemiou/ OECD. (2016). Financing SMEs and Entrepreneurs 2016: An OECD Scoreboard, OECD Publishing, Paris. Retrieved from: http://dx.doi.org/10.1787/fin_sme_ent-2016-en Pervan, I.- Kuvek, T. (2013). The relevant Importance of Financial Ratios and NonFinan-cial variables in Predicting of Insolvency. Croatian Operational research review, 4, 187-197.
  • Slovak Craft Industry Federation (2020, April 6). More than 93% of entrepreneurs were affected by coronavirus. Retrieved from: https://www.szz.sk/images/Articles/PDFka/06-04-2020-TS-Prieskum-WILIO_SZZ-converted.pdf
Year 2020, Volume: 6 Issue: 2, 150 - 156, 30.06.2020
https://doi.org/10.24289/ijsser.754130

Abstract

Project Number

VEGA 1/0688/20

References

  • Berger, N. A. - Udell, F. G. (2002). Small Business credit Availability and Relationship lending. The Economic Journal, 112(477), F32-F53.
  • Covaci, B. (2008). Credit Risk in Financing SME in Romania. Bucharest: SpiruHaret Uni-versity.
  • ECB (2018). Survey on the Access to Finance of Enterprises in the euro area. Retrieved from https://www.ecb.europa.eu/stats/ecb_surveys/safe
  • Monitoring of Business Environment. (2020, March 31). Analysis of SMEs directly en-dangered by pandemics. Retrieved from: http://monitoringmsp.sk/2020/03/31/analyza-msp-priamo-ohrozenych-pandemiou/ OECD. (2016). Financing SMEs and Entrepreneurs 2016: An OECD Scoreboard, OECD Publishing, Paris. Retrieved from: http://dx.doi.org/10.1787/fin_sme_ent-2016-en Pervan, I.- Kuvek, T. (2013). The relevant Importance of Financial Ratios and NonFinan-cial variables in Predicting of Insolvency. Croatian Operational research review, 4, 187-197.
  • Slovak Craft Industry Federation (2020, April 6). More than 93% of entrepreneurs were affected by coronavirus. Retrieved from: https://www.szz.sk/images/Articles/PDFka/06-04-2020-TS-Prieskum-WILIO_SZZ-converted.pdf
There are 5 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Research Articles
Authors

Katka Belanová 0000-0003-2634-9238

Project Number VEGA 1/0688/20
Publication Date June 30, 2020
Published in Issue Year 2020 Volume: 6 Issue: 2

Cite

APA Belanová, K. (2020). Impact of corona crisis on SMEs in the Slovak Republic. International Journal of Social Sciences and Education Research, 6(2), 150-156. https://doi.org/10.24289/ijsser.754130
AMA Belanová K. Impact of corona crisis on SMEs in the Slovak Republic. International Journal of Social Sciences and Education Research. June 2020;6(2):150-156. doi:10.24289/ijsser.754130
Chicago Belanová, Katka. “Impact of Corona Crisis on SMEs in the Slovak Republic”. International Journal of Social Sciences and Education Research 6, no. 2 (June 2020): 150-56. https://doi.org/10.24289/ijsser.754130.
EndNote Belanová K (June 1, 2020) Impact of corona crisis on SMEs in the Slovak Republic. International Journal of Social Sciences and Education Research 6 2 150–156.
IEEE K. Belanová, “Impact of corona crisis on SMEs in the Slovak Republic”, International Journal of Social Sciences and Education Research, vol. 6, no. 2, pp. 150–156, 2020, doi: 10.24289/ijsser.754130.
ISNAD Belanová, Katka. “Impact of Corona Crisis on SMEs in the Slovak Republic”. International Journal of Social Sciences and Education Research 6/2 (June 2020), 150-156. https://doi.org/10.24289/ijsser.754130.
JAMA Belanová K. Impact of corona crisis on SMEs in the Slovak Republic. International Journal of Social Sciences and Education Research. 2020;6:150–156.
MLA Belanová, Katka. “Impact of Corona Crisis on SMEs in the Slovak Republic”. International Journal of Social Sciences and Education Research, vol. 6, no. 2, 2020, pp. 150-6, doi:10.24289/ijsser.754130.
Vancouver Belanová K. Impact of corona crisis on SMEs in the Slovak Republic. International Journal of Social Sciences and Education Research. 2020;6(2):150-6.