Czech Business Today
Volume IX, 5-2010
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Every business can be innovative! But it must be supported in its innovative efforts!
The new EU2020 strategy focuses on the Innovative Union and calls for 3% of GDP to be invested in R&D. This… continue reading »
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New opportunities for Czech exporters – Western Balkans and Turkey
Czech companies have been doing business in Western Balkan countries for decades and have long-lasting business… continue reading »
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ENERGIZING EUROPE: FUTUR/E/MOTION: way to face new challenges in the power sector
CEZ Group has launched its long-term strategic initiative FUTUR/E/MOTION last year in order to have an efficient and… continue reading »
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CONSUMER RIGHTS
The ongoing debate about the consumer acquis in the European Parliament is speeding up and parliamentarians seem to… continue reading »
CEBRE calendar
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6th October:
CEBRE Debate on Electric vehicles (Open Days) (Brussels)
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14th October:
European Parliament of Enterprises organized by EUROCHAMBRES (Brussels)
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4th November:
Conference on “The Implementation of the Services Directive” (Brussels)
Flash news
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Willingness of banks to grant loans slightly up
The volume of newly granted loans for businesses again exceeds paying-off old business loans. Following the crisis, loans granted in the Czech Republic were up to April. However, since May, the total of granted loans has started to grow, namely in the industry and energy sector. More than half of the companies plan financing of their expansion from own resources and only one in five companies expects to finance its growth via bank loans.
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Public Tenders are not transparent enough
A survey by ePoptavka.cz shows that more than two-thirds of Czech companies do not apply for public tenders. Entrepreneurs think they do not have the right contacts and networks necessary to obtain public tenders. 60% of SMEs stated it is impossible to win a public tender without bribes or hush money. The situation could be improved by using e-auctions.
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Free trade with Korea will have positive impact on Czech economy
The EU Free Trade Agreement with Korea should come into force in 2011. After that, there will be no custom charges applied on 70% of all items. Potential growth in Czech exports to Korea is expected to increase by more than a third and imports from Korea by more than 15 %. Czech exports will be linked to machinery, manufacturing and foodstuffs, as well as Korean public tenders for construction and works.
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Amendment of Trade Licence
On 1st August, the Czech Republic introduced amended Trade Licence aimed at reducing the administrative burden when starting up and closing down a business. The first reactions of businesses reveal there will be no significant cutting of red tape, as a lot of administrative burden will remain throughout the life of the business.
