Effective Policies Supporting SMEs

Access to Global Markets

Zuzana Nehajova, Director General for Innovation and

Business Environment, The Ministry of Economy of the

Slovak Republic

April 28th 2016

Paris

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Introduction of Slovak Business Environment

Slovakia in a Nutshell

• Free market economy

• Automotive and electronics industries

• Top 15 worldwide for FDI and trade

• Export is over 70% GDP

• SMEs provide 72% employment

• Specialization in services, retail, manufacturing

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and changes for SMEs

The most important reforms

Privatization of Banking SectorRestructuralization,

Recovery and Privatization

Health Care Reform Debt Relief, Health Services

Payments, Joint Stock

Insurance Companies

LegislationTax Reform, Active Labor

Market Policy, Bankruptcy Act

Social Insurance System Flexible Labor Code,

Activation Benefits,

Sickness Benefits

Retirement Reform Strong Capitalization

Pillar, Retirement Age

Public Administration Reform Competence

Decentralization, Local

Government Reform

Business EnvironmentTax Reduction, Legislative

Simplification

Adoption of €Increased Stability,

Improved Economic-

Political Framework

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Internationalization of SMEs

Vynikajúce

10%89%5% vs

64%29%

Export of SMEs

represent 29% of

total export

5% of SMEs

undertake exports

compared to 64%

of large

companies

10% of Slovak

SMEs export

outside of EU89% of Slovak

SMEs export

within EU

Operational Program

Research and Innovation 2014- 2020

Actions taken by the Slovak Business Agency

and Slovak Investment and Trade Development Agency

Key services for internationalization of SMEs

• Seminars

• Workshops

• Short and Long-term free consulting services

• Events and trade shows abroad

• Online marketing and promotion services when entering new markets

Better Regulation Center

Aims to analyze the regulatory burden of SMEs when doing business and issues associated

with going global

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A project for experienced professionals to coach entrepreneurs

Virtual Business Accelerator

Platform Connecting experienced

professionals and

entrepreneurs

Early stage developmentProfessionals share

their expertise

Win-win situation Startups get invaluable

advices, mentors get

access to interesting ideas

President Andrej Kiska Ambassador of the

project is The President

of the Slovak Republic

Professionals from abroad

Startups from Slovakia

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Innovative representationEconomic diplomacy

Mediation of contactsDevelopment of trade

and investment cooperation

Offer available capital Search for joint research and

innovation projects

Innovative Envoy

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Slovak Innovation Policy and Smart Industry concept

Innovations in Slovakia

Innovation Strategy RIS3Innovation Strategy of the Slovak Republic

Innovative hubs and clustersJoint research projects, education, internationalization

and development

V4 Innovation TaskforceCreation of digital platform with an intention

to support competitiveness of V4 region

R&D

HUBS

SMEs

Holistic ApproachFocus in on entire ecosystem,

including traditional industries

Smart Industry StrategyFollowing the example of UK and Germany

SMART

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Better Regulations in Slovakia

REGULATIONS RIAUNIFIED

METHODOLOGYANALYTICAL

PROCESS

INNOVATION

SUPPORTEX-ANTE IMPACT

Transparent, stable

and predictable

regulatory framework

Regulatory Impact

Assessment

Comprehensive

revision of the Unified

Methodology for

Assessment of

Selected Impacts

SME Test,

Consultation with

stakeholders, Quality

control mechanism

Regulatory framework

supporting innovations

The Ministry of

Economy has

launched ex ante

impact assessment

Preferred business destinations for Slovak SMEs

Germany

Finland

Washington

Israel

Silicon Valley

South Korea

United Kingdom

Singapore

Shanghai

Japan

Automotive, Biotechnology, Nanotechnology, Electrical Engineering, Environmental Technology

Robotics, Healthcare, Energy Efficiency, CleanTech, FinTech

Mediacom, Financial Services, CleanTech, Healthcare, Cyber Security

ICT, Software, Security-related Technologies such as Encryption, Fraud Protection, Mobile

Surveillance, Medical Devices, Water Technology, BioTech and Nanotech, Cyber Security

Electronics, ICT, Machinery, Biotech, Cyber Security

Creative Industry, R&D in Natural Sciences and Engineering, Health

(medicine and pharmaceuticals), Fintech

Electronics and Biomedical

Energy, Media, Environmental Protection

Start-ups (ICT software)

ICT, Robotics, Consumer Electronics, BioTech

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Thank you for your attention.