Slovakia a good place to start Business? A fact check

Is Slovakia a good place to start Your Business? This video will fact-check this central European Country is willing to attract businesses.

Slovakia is a small but emerging European nation. They started their Startup infrastructure back in 2009 and are trying to establish small businesses.

⏱Timestamp⏱
0:00 Intro
0:42 Slovakia a good place to start business?
1:51 How entrepreneurial are the Slovaks?
2:53 Legal and government Framework
3:26 Popular Slovak brands?
4:11 Favourable tax system
4:56 Slovak Startup Visa
6:33 Is Slovakia a good place to start Your business?
7:33 Outro

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[simiken]

You might know the Slovak software companies ESET for antivirus software and Slido and Exponea, which are both recently acquired medium size startups :)

[BrigitteIlsanker]

After the Split of Czechoslovakia into Slovakia and Czech Republic in 1992, Slovakia 'wanted it too much' to become a business friendly country. The startup euphoria became over-heated. This seems to normalise meanwhile.

Low taxes are good but not the only condition for growing business. Take into mind that the first few years you aren't making big profits anyhow.
Mostly 😁

[DominguezSK]

Tricky topic, but as an overview it was spot on I'd say.

State encourages small businesess. This is especially true for self employed. Yes, they get tax exemption for first year, yes, they get stimulus upon starting and also yes, they can save enourmous money via flat-rate expenses, but they don't get social benefits (unemployment support etc.). For companies, for example S.R.O. (LLT), they are getting lower tax (15%) if they have their an. profit under 55000€ (+- some pieces).

This may be the reason there aren't many succesful world-wide brands you know from Slovakia (I'd say there are few like ESET and Tachyum but OK). The tax system is set so every smart enterpreneur will do everything to keep their profits under certain margin. Besides doing work without receipt enterpreneurs also split their companies legally into two so they pay that sweet 15% tax. Another thing is insane bureaucracy.

Also, you may not know many Slovak brands bcs we simply cannot compete. However there have been companies bought by large global corpo's, for example Cisco has bought Slido.

[egymixereselete]

I am originally from Slovakia. I live in Germany and everything is so complicated here. I was thinking about starting a business there and also registering it if needed but living here in Germany. I don't know if that could work but it is way riskier than in Slovakia.

[The-Finance-And-Property-Guys]

I'm currently thinking of moving there. Please can you help with a detailed information about the process or recommed an agency.