Business News

Fast-Growing Companies on the Rise Again

Ljubljana, 01 October (STA) - After a significant drop in the 2008-2011 period, the number of fast-growing companies is on the rise again, increasing by 5% in 2012, show data released by the Statistics Office ahead of European SME Week. Most of the companies were from the service sector.

The fast-growing companies are those that boast at least 10% annual growth in a three-year period. In 2012, 1,200 companies recorded such a growth and they mostly employed five to nine people.

SMEs comprised for 99.8% of all active companies in non-financial sector in the country in 2012. They can be found in all sectors, while in some (construction and service sector) there are virtually no other types of companies.

SMEs employed 72% of all employed people in the country, while they generated 68% of total sales revenue and 63% of added value, Andrejka Šivic of the Statistic Office has told the press.

The biggest problem SMEs face in Slovenia is access to funds. Access to financing deteriorated most notably in the 2008-2013 period.

In a report in which the European Commission assesses the implementation of EU measures aimed at supporting SMEs, the Commission said that Slovenia's performance in SMEs' access to financing and responsiveness to these companies' problems was below EU average.

Meanwhile, Slovenia was praised for managing to create an appropriate environment for SMEs.

The crisis hit SMEs hard. In the 2008-2013 period, SMEs in Slovenia cut 41,000 jobs. While the economic forecast for Slovenia for this year is upbeat, the outlook for SMEs for the 2013-2015 is less optimistic.

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