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SMEs make up 99.9 pct of business entities in Slovakia: official

Xinhua, November 25, 2016 Adjust font size:

Small and medium-sized enterprises (SMEs) make up 99.9 percent of all business entities in Slovakia, State Secretary of the Slovak Ministry of Economy Rastislav Chovanec said Thursday.

Addressing the fifth SME Assembly 2016 conference here, Chovanec said even a small increase in their activities in total would have great importance for the Slovak economy.

"We have a lot of micro-enterprises employing one in nine people. Micro-enterprises are very important from the social point of view as they create jobs. Our objective is to make them more involved in subcontracting and to make them grow faster," he said.

"I think that in the future the importance of small and medium-sized enterprises will gradually grow; from the economic point of view as well," added Chovanec.

The SME Assembly is a two-day event, organized annually by the European Commission in cooperation with the country presiding over the EU Council. Enditem