IMPLEMENTATION OF SMALL BUSINESS ACT INITIATIVE IN SMALL AND MEDIUM ENTERPRISES IN SLOVAKIA

Small and medium enterprises are faced with the critical question of how to react to the changes caused by the process of globalization. Globalization creates new business environment with new challenges, but also with new threats. Implementing Small Business Act for Europe (SBA) represents the key appeal for the European Union and its member countries within the support of small and medium entrepreneurial activity. Small Business Act for Europe consists of a set of ten principles that lay down the measures for the support of small and medium (SME) in varied fields. These principles have to be respected when suggesting the measures of complex character aimed at the support of small and medium enterprises development in the EU member countries. The aim of the paper is to evaluate the results of implementing SBA's initiative in small and medium enterprises in Slovakia, to identify the policy areas (principles) in which main strengths and weaknesses in implementing the SBA's initiative is evident and to formulate the main measures to be taken to improve the state in the problematic areas. To fulfil the settled aim several scientific methods of examination, namely the method of analysis, synthesis, induction and deduction will be used.