The fast-moving consumer goods (FMCG)
, also known as consumer packaged goods (CPG)
, represent products which are low-cost and sold rapidly, replaced or entirely utilized in maximum one year, generally in a matter of days, weeks or months. These products can be soft drinks, grocery items or toiletries. In this article, our company formation consultants in Slovakia
present different details related to starting a company in the FMCG sector in Slovakia
FMCG market in Slovakia
Because of the flourishing economic status of Slovakia in 2015, the rising consumer buying power and the decreasing unemployment rate, the sales in the grocery retail market also rose.
The local consumers are starting to be more aware of two crucial factors in regards to buying groceries: the product composition (contents of artificial ingredients and colorants) and the product origin (EU, local or overseas).
These two aspects, which influence the behavior of the consumer, are influenced by healthy lifestyles and the fair trade patriotism.
Hypermarkets, with 5% increase rate in sales in 2015 are the most used channel, own 29% of the market share, being followed closely by supermarkets.
Consumers in Slovakia prefer larger-scale acquisitions from larger stores, which leaves the smaller and more frequent shopping to small outlets like convenience stores, supermarkets or groceries.
Opening a SRO in Slovakia
is the most common form of business entity in Slovakia. To register such a company here, certain documents have to be gathered:
- the name and address for the business entity;
- the data connected to the company founders;
- the kind of activity the company will be effectuating;
- the capital amount;
- data in connection with the executives and the Supervisory Board's members;
- the projected incorporation costs.
Then, the company has to be registered with the Commercial Registry based on a full standard application form, a notarized copy of the trade license, the foundation documentation, a statement from the founder of the capital contribution and others.
Import regulations in Slovakia
According to the E.U. membership, Slovakia has adopted the E.U. trade policy like antidumping or anti-subsidy measures.
The E.U. import regime is valid for Slovakia, mainly in the textile product industry. The E.U. has a quite liberal foreign trade policy and having to get an import license is not usually required.
Our Slovakia company formation
consultants advise you, though, to ensure that importing a particular product does not need an import license.
There are certain restrictions, mainly for farm goods, after the implementation of the CAP (Common Agricultural Policy).
This implies that the application of compensations on the import and export of farm goods, meant to favor the development of the agriculture inside the E.U., requires a certain control and regulation systems for products which come within the E.U. territory. Our advisors can assist you in starting a business
in this sector in Slovakia
If you require more information about the FMCG sector in Slovakia
, or for help to open a company in Slovakia
, please contact us