Entrepreneurship Development in Slovakia

Abstract

In this chapter the main trends in entrepreneurial dynamics and development of entrepreneurial environment in Slovakia over the last 5 years are analyzed. Generally, entrepreneurship in Slovakia is characterized by relatively high levels of entrepreneurial activity throughout all its types and phases of the entrepreneurial process. However, the overall high activity is unevenly distributed across age groups and genders. Thus, a specific attention in this chapter is also paid to inclusivity of entrepreneurship, with the main focus on disadvantaged groups such as women, youth, and seniors. Also, entrepreneurial environment in the country, despite some favorable conditions, shows generally insufficient support of entrepreneurial activity. Moreover, societal attitudes and cultural and social norms related to entrepreneurship do not stimulate but rather inhibit individuals from engagement in entrepreneurial efforts. In the following paragraphs, we provide a closer analysis of the abovementioned trends and develop recommendations for policy makers to tackle them.