BUSINESS IN SHORT

Businesses would expand abroad

THE LAST few years have seen an increasing number of Slovak start-ups and larger companies alike succeeding not only in Slovakia, but also abroad, analyses have shown.

THE LAST few years have seen an increasing number of Slovak start-ups and larger companies alike succeeding not only in Slovakia, but also abroad, analyses have shown.

According to the Young Entrepreneurs Association of Slovakia (ZMPS), 20.5 percent of companies are already doing business abroad while another 70.5 percent are pondering such a scenario.

The most preferred foreign countries for operating a business abroad were the Czech Republic (26.1 percent), Austria (13 percent) and Hungary (9.8 percent).

“It’s difficult to take the first decision and first step,” said the ZMPS’ Tomáš Husár, as quoted by the TASR newswire.

As many as 62 percent of 417 entrepreneurs who were included in the survey and who would be interested in selling their products or services abroad said, howver, that they perceive an obstacle in formal and legislative matters.

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