Contribution of Small and Medium-Sized Enterprises to GDP

Small and medium-sized enterprises have an irreplaceable place in the country's economy. In spite of the European Commission's effort to ensure consistency in the definition of a SME category or the use of uniform methodologies to quantify the the impact of SMEs on individual macroeconomic aggregates, we are confronted with problems concerning the diversity of legal forms and financial statements in individual EU countries. One of the most commonly used macro aggregates is a gross domestic product. Quantification of the impact of small and medium-sized enterprises on the country's GDP is, however, unknown to many countries. The paper focuses on the methods of calculating GDP and the quantification of the impact of SMEs on GDP in Slovakia.