Šmartinska cesta 152
SI-1000 Ljubljana, Slovenija
Slovenia is one of the smallest OECD member countries with a population of 2.06 million people (2018), a GDP of 55 billion USD (2018), and a GDP per capita of US $26,000. Slovenia successfully transitioned to a high-income country after independence in 1991 and has continued to perform quite well since then. Slovenia’s economy grew an average of 3.5% between 2014 and 2018, which was well over the European Union (EU) average of 2.1%. Economic growth in the past couple years has mainly been driven by net exports and they are projected to continue driving growth through 2019.
While economic growth is expected to slow down to 2.8% in 2020, the country’s growth will still be well over the projected growth of the EU, of 1.7% in 2020. The country’s unemployment rate has also remained relatively low, coming out at 5.4% in 2018, again below EU rates of 7%. According to the Global Entrepreneurship Monitor (GEM), Slovenia is overall doing better than most high-income countries in terms of perceptions and opportunities around entrepreneurship. For example, in 2018, 42.2% of the people in Slovenia reported an existence of several promising business opportunities, which is an exceptionally positive result. Additionally, 50.1% of adults believe that they possess the capabilities and skills needed to successfully start and manage a business25.
However, despite the positive attitude and perceptions towards entrepreneurship, Slovenia’s Total Early-stage Entrepreneurial Activities (TEA), which measures the proportion of adults involved in starting or managing a business (less than 42 months old), is lower than the EU averages. In addition, gender and age continue to play a considerable role in the likelihood of people starting and managing a business. There are only 4.3 female entrepreneurs in Slovenia for every 10 male entrepreneurs. The highest TEA was observed in the age group of 25 to 34 years. Women and other underrepresented populations, still present untapped entrepreneurial potential.