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Businesses don’t expect improvement

A high number of entrepreneurs expect conditions for doing business to worsen this year.

Illustrative stock photo(Source: SME)

Entrepreneurs do not consider the business environment in Slovakia favourable. They also do not expect their economic results will significantly change this year , according to a survey carried out by the Slovak Chamber of Commerce and Industry (SOPK) at the end of 2016 among its members.

When comparing the expectations of respondents with the ones that appeared in the survey carried out in late 2015, the latest results indicate a slight shift towards more pessimistic predictions. The highest share of respondents expects their economic results will stagnate at 2016 levels, the TASR newswire reported.

Moreover, the number of respondents expecting conditions for doing business to worsen in 2017 increased slightly compared with the previous survey.

As for factors that will have the biggest impact on entrepreneurship, respondents chose domestic demand, followed by foreign demand and cost of labour force. The order has not changed since 2014, TASR wrote.

While some 7 percent of respondents consider the business environment in Slovakia favourable, up to 39 percent were not satisfied. Regarding long-term comparison, however, the share of businesspeople with positive evaluation has been increasing since 2013, while the share of those with negative perception has dropped, from 68 percent in 2013.

Meanwhile, the evaluation of the government’s economic policies worsened in the 2016 survey compared with the previous one. Only 1 percent of respondents perceive it positively, while up to 47 percent are negative about them. SOPK warned that a relatively high number of respondents – 45 percent – were neutral about the policies.

Regarding the measures to improve the business environment, entrepreneurs propose the government reduce tax and payroll tax burdens, improve law enforcement and reduce red tape.

Many respondents also expressed increased concern over the lack of a qualified labour force, TASR wrote.

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