How can Slovakia match the technologies of the 21st century with regulation, so that the opportunities will be exploited? It’s simple. It is not rocket science or a super-secured secret. Just look at what has been done by more than half of the U.S. states.
Paying the advanced tax in Slovakia is a bureaucratic burden, since an entrepreneur has to take care of the regular payments. But there is a bigger problem. An entrepreneur has to pay the advanced tax from her/his current income – but the payment size is set according to her/his last year’s tax.
John Chisholm wrote an inspirational book based on his own business experiences, including his work in the Silicon Valley. In Unleash Your Inner Company, the author explains how to combine passion with perseverance in order to succeed in business, where passion without perseverance “can be fleeting”.
In October, the USAID Leadership in Economic Governance (LEV) Program held its final event. The project lasted for three years and made an important contribution to the policy of small and medium enterprises (SMEs) development in Ukraine.
The magic of the Harry Potter franchise lies not in all the wand waving, but rather in the strong willingness of the protagonists to fight for liberty. Be it as small as opposing nonsensical school rules, or as grandiose as combatting the authoritarian Ministry of Magic, the main characters are there to step up for their freedoms.
In 2016, the Institute of Economic and Social Studies (INESS) from Slovakia decided to fill the gap and the Bureaucracy Index was born. In collaboration with experts from different areas, INESS identified and analyzed all the administrative tasks that the state requires from a model SME company.
A lot people look to the United States as a role model. But I think it’s important to try to seperate out what’s good about the U.S. that you want to copy and what’s bad about the United States that you do not want to copy. And that can be challenging.
To create Silicon Valleys in Poland and Europe, recognize that they cannot be designed and that the winners and losers they comprise cannot be predicted. Especially by governments. Focus instead on creating the right climate and environment: attractive taxes and unobtrusive regulation. Trust in freedom and free markets.
Over 90% of legislative burden in Slovakia comes from four ministries: the Ministry of Finances, the Ministry of Labor, thr Ministry of Health and the Ministry of Economy. The highest share, about 65% (EUR 1.7 billion) comes from the Ministry of Finances.