Slovakia is one of the countries with one of the fastest growing GDP in the European Union. During the period 2000-2008, its GDP grew highly as a result of a liberal economic reforms program initiated by the right-wing coalition. During these years, the fast growing economy of Slovakia gained the renowned nickname as Tatra Tiger, deriving from the local Tatra mountain range. Our Slovakia company formation professionals
can provide more information on this aspect.
The capital of the country, Bratislava, is the biggest financial hub in Slovakia, the wealthiest and most important region from the economical point of view. Opening a small business in Slovakia
and especially in Bratislava can therefore prove to be an inspired idea, as if you are able to cater products or services to the part of society which is wealthy, there is an opportunity to be extremely successful. Here are 4 ideas for small businesses in Slovakia
our Slovak company formation experts
would like to present you as having great potential at the moment.
1. Open a small restaurant in Slovakia
The restaurant industry
is expected to register a major growth in the near and long term future. This is mainly due to the trend of more and more people preferring to dine out rather than prepare their own meals at home.
The industry is projected to increase with a 2% value compound annual growth rate (CAGR) to reach EUR 377 million by the year 2020.
2. Setting up a travel agency in Slovakia
Setting up a small business
as a travel agency in Slovakia
can prove to be extremely profitable, as the tourism industry in the country increased greatly since gaining its independence. The total sum of local and international visitors in accommodations is 3.8 million, out of whom 1.5 million are foreigners.
3. Starting a small IT company in Slovakia
The IT sector is one of the biggest and most profitable ones, with educated and adaptable workforce, hence opening a small company in Slovakia
in this particular sector would present great prospects. Most of IT services in Slovakia
are offered by outsourcing businesses and software houses. Opening an IT company in Slovakia
is fairly easy, once the mandatory registration requirements have been fulfilled.
4. Opening a small recruitment agency in Slovakia
With such a developing economy, another great small business idea in Slovakia
would also be to open a small recruitment agency
. The Slovak recruitment industry
has registered a huge development in the last years. With booming industries, like the car, IT and telecommunication ones, there are increasing demands for educated workforce in the country, to which you can cater.
Do you have other ideas for
setting up a small business in Slovakia
? We can assist you with the process of starting a business in the country in any sector you might need. Please contact our company formation advisors in Slovakia
for a customized offer.