abstract: 'The small and medium enterprise (SME) development is one of the assumes

  of favourable economic development in SR. It belongs, along with

  reclassification of the Slovak economy, to its main priorities. Despite

  favourable trends, the SME share of the most important indexes has been

  lower than in the EU countries. Due to barrier elimination on macro- and

  micro level, as well as, a significant state support and an effective

  support of the European Union and in context with other countries in the

  Middle and Eastern Europe, we can expect convergence towards the target

  values of SME in EU, considering this as a whole, as well as, within

  particular sector-branch segments of SME.

  Small and medium entrepreneurs achieve 51\% of the GDP formation, over

  62 employment share and 45\% export share, however, SME in Slovakia have

  got many reserves despite the relatively good shares.

  The SME are worth in difficult conditions of a new economy too,

  supposing they are markedly active and the state creates adequate

  business environment for them. They cannot stagnate in the new economy.

  They can follow one of two strategies: offensive or defensive, where

  both of them have got their strengths.

  The SME support in the Slovak conditions is very actual. Revaluation of

  the present forms of the SME support leads to the need of redirection

  from the tools bringing only a short-term effect towards the use of

  long-term character tools with a striking motivational effect. We should

  consider SME in Slovakia from its perspective effect point of view

  within the united European market too.

  Identification of SME in Slovakia, as well as, in other countries, can

  be done by comparison with analogue SME partners in other countries

  which are interesting for us from a particular point of view. These are

  the countries of Middle and Eastern Europe and some developed countries

  (EU). But the simple fact faces big barriers related to the ``soft{''''}

  market environment which is the result of present reform economic

  processes and their interpretation, as well as, with different objective

  index contents. The most of the legislative barriers within SME are

  represented by increased financial duties of the entrepreneurs which

  often have got a de-motivational character. It is necessary to support

  the creditor legal status, to apply the right of lien, to recover the

  capital market, to gain foreign investments, to support SME, to make the

  interest rates real and to reduce the tax duties of the entrepreneurs.

  The business environment problems mentioned above refer to tourism too,

  despite it has got its strengths, as follows: dynamics, low investment

  and import intensity (three times lower in tourism than in industry), a

  high share of direct labor there functions as the tool of unemployment

  reduction and the region development, minimized dead assets, exchange

  effect for the country etc. We can expect the principal changes after

  realization of the measures, as follows: working-out the Tourism

  Development Program for the sake of the region development, Tourism Fund

  formation, working-out and approval of the tourism legislative support,

  significant financial advertising support etc.

  The business success or failure reflects the financial situation of an

  enterprise in tourism. Thus the managers, as well as, the external

  subjects can discover many strengths or weaknesses of the enterprise,

  their causes and reasons by the analysis of the business financial

  situation,. of the company and, upon this, to make decisions or accept

  proper arrangements.

  We cannot be satisfied with the development results and trends of

  particular financial indexes in the analyzed tourism enterprises-travel

  agencies, hotels and restaurants in Slovakia. The failure of the

  financial health is seen in a low profitability, often negative,

  relatively low liquidity, high indebtedness and long liability maturity

  periods. The short-term resources of the net operating capital are

  missing and the long-term financial resources formation is complicated

  too. Prevention can be found by respecting the need of the financial

  planning, within the flow management of the company and by change of the

  approach of the financial managers towards the formation of the

  financial resources of the company capital.'
affiliation: 'Pachingerova, M (Corresponding Author), Ekon Univ Bratislave, Obchodna
  Fak, Katedra Sluzieb Cestovneho Ruchu, Dolnozemska Cesta 1, Bratislava 85235 5,
  Slovakia.

  Ekon Univ Bratislave, Obchodna Fak, Katedra Sluzieb Cestovneho Ruchu, Bratislava
  85235 5, Slovakia.'
author: Pachingerova, M
author_list:
- family: Pachingerova
  given: M
da: '2023-09-28'
files: []
issn: 0013-3035
journal: EKONOMICKY CASOPIS
language: Slovak
number: '6'
number-of-cited-references: '18'
pages: 1173-1196
papis_id: 32e9c45fb12602d7de86f99da21d352a
ref: Pachingerova2001smallmedium
times-cited: '2'
title: Small and medium enterprises in Slovakia focusing on tourism
type: article
unique-id: WOS:000174983500012
usage-count-last-180-days: '0'
usage-count-since-2013: '21'
volume: '49'
web-of-science-categories: Economics
year: '2001'