Supporting small and medium-sized enterprises in preparing for the euro adoption in the Czech Republic

Abstract

The euro adoption process in the Czech Republic is currently viewed negatively among SMEs. Preparation the transition to the euro will eliminate the risk of destabilization in business sector and in financial markets. The general preparedness level of enterprises is analyzed in the National Euro Changeover Plan, including any specifics for SMEs. Detailed processes will be explained in Manual for the Preparation of Entrepreneurs. The Association of Small and Medium-Sized Enterprises and Crafts of the Czech Republic should be involved in the preparation of manual. The SME sector will bear a relatively higher burden of costs arising from the euro introduction, as corroborated by experience of Slovak companies. Businesses have major concerns about the conversion of accounting and information systems.