Regional development and support of SMEs – how university project can help

Abstract

Small and medium-sized enterprises (SMEs) play a crucial role for the Slovak economy. They constitute of more than 99% of the total number of businesses and employ more than 41% of all employees. Support of starting entrepreneurs is an important tool for increasing employment in the economy. The sector of SMEs is also important for regional development, because SMEs use mostly local resources and their profit remains in the region. SMEs are at the same time very sensitive to changes in the economy, and more than 60% of them go bankrupt during the first three years after establishment. There exist different kinds of support for SMEs, one example is a special Consulting and Development Centre (PRC) which was established at the Faculty of Management, Comenius University in Bratislava. Academic background with the support of external experts from private sector allows effective transfer of knowledge between students and starting entrepreneurs. Young graduates and students, especially technicians, IT experts and other specialists, have interesting business ideas but lack managerial skills and economic knowledge. PRC, with participation of students of management, is trying to fill this market gap.