According to the 2017/2018 annual report on European SMEs, Slovenian SMEs in the non-financials sector recorded a steep growth between 2013 and 2017.

Their added value was up by 33.4%, and number of employees by 5.6%, which is well above the performance of large companies in this department.

In the 2016-2017 period, added value generated by SMEs was up by 8.8%, which was the largest annual increase since 2008. Employment in the same period was up by 2.9%, which is also the largest increase since 2008.

The outlook for SMEs and the non-financial sector in Slovenia as a whole remains positive. Added value generated by SMEs is expected to increase by 11.6% in the 2017-2019 period, and employment by 0.6%.

According to the European Commission, the main challenge for Slovenia is still the shortage of qualified staff. It sees a solution in closer ties between the economy and the education system.

The Commission also thinks that Slovenia should find alternative sources of financing, especially for fast-growing companies which deal with innovation. It also calls for further reduction of administrative barriers.

The report, published on Tuesday, coincides with the 2018 SME Assembly, which is taking place in Austria's Graz between Monday and Wednesday. The European Enterprise Promotion Awards will be conferred there this evening.