Impact of corona crisis on SMEs in the Slovak Republic

Authors : Katka Belanová

Pages : 150-156

Doi:10.24289/ijsser.754130

View : 13 | Download : 8

Publication Date : 2020-06-30

Article Type : Research

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