BUSINESS IN SHORT

Business environment ticks up slightly

ENTREPRENEURS believe the business environment in Slovakia improved slightly in the third quarter of 2010. The current Business Environment Index, calculated by the Slovak Business Alliance (PAS), reached 91.9 points, which represented an increase of 0.39 percent from the previous quarter.

ENTREPRENEURS believe the business environment in Slovakia improved slightly in the third quarter of 2010. The current Business Environment Index, calculated by the Slovak Business Alliance (PAS), reached 91.9 points, which represented an increase of 0.39 percent from the previous quarter.

“The perceived slight improvement in the business environment is an expression of cautious optimism by entrepreneurs, which springs mainly out of the positively perceived programme statement of the government and some of the measures [that have been taken] up to now,” PAS wrote in a press release.

According to PAS, the biggest change in the index, an increase of 2.75 percent, was recorded in the entrepreneurs’ assessment of the state’s economic policy and the accessibility of information. PAS wrote that entrepreneurs welcome the planned austerity measures that should help to stabilise public finances and restart the economy but noted that some individuals felt the government cutbacks should be even deeper.

The Business Environment Index on the other hand recorded a 2.65 percent drop in the perception of payroll tax legislation with entrepreneurs expressing doubt about the government’s draft law which aims to widen the base for calculating payroll taxes without providing an offset in the form of lower rates for payroll taxes.


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