PLEASURE DOING BUSINESS
Slovenia is a place in which it is worthwhile to invest and work thanks to its favourable business environment. The geostrategic position at the crossroads of transport routes, well-developed ICT and physical infrastructure, technological networks and platforms, centres of excellence and clusters as evidence of high-level innovation activity, make Slovenia an excellent base for business development and growth, encouraged by high performance education system, which in the final stages allows the inclusion of students in advanced research, business and international projects. Our legislation is clear, an entrepreneurial culture and support networks are in place to help the setting up and improve the growth potential of businesses.
Just like in the rest of Europe where small and medium-sized enterprises (SMEs) make up 99% of European businesses, Slovenia also has many small, often family-run operations. Their small size makes them flexible when it comes to adapting quickly to market changes but also sensitive to changes in the industry and environment in which they operate. The objective set by the Slovenian government to alleviate the bureaucratic constraints is still work-in-progress as the measures are drafted to reduce the obligations to provide information which are set out in the legislation. By simplifying the requirements to provide information, the administrative costs borne by the business sector will be reduced and the well-functioning web-based reporting is already saving time and money to businesses that operate in Slovenia.
The World Bank’s Doing Business Survey measuring and comparing regulatory conditions for doing business ranks Slovenia in 37th place among 190 nations. Slovenia is among the top ten countries with the least number of procedures required to start a new business. Not only that: it is the cheapest place on the planet to launch a new corporation. Another advantage highlighted by the report is Slovenia’s high level of security for investors.
In this stimulating entrepreneurial environment with almost 196,000 business entities some very successful, international-oriented companies have grown. These Slovenian pillars of success are the main source of relative wealth and competitiveness of our economy.
Top 20 Slovenian Pillars of Success
|Company||Activity||Sales (in mn EUR)||EBITDA (in mn EUR)||Number of employees|
|HSE||Trade & energy production||1,472.0||128.1||175|
|GEN||Trade & energy production||2,370,1||86.8||55.31|
|SŽ||Activities of head offices||422.9||75.0||447.54|
|Gorenje||Electircal & electronics industry||1,185.8||-24.5||4,391|
|Kolektor Holding||Holding activity||821.3||60.4||33.55|
|ELES||Trade (with electricity)||536.2||59.9||543.80|
|Pošta Slovenije||Postal services||250.7||24.7||5,371|
|LTH Castings||Aluminium die - casting||315.1||71.5||1,816|
|Javni Holding Ljubljana||Activities of head offices||243.7||16.8||190.14|
Source: Newspaper Finance, 2019; GVIN database