Nearly 50,000 sole traders in Slovakia have ceased operations since 2025, according to the National Bank of Slovakia. This significant decline is attributed to a combination of factors increasing the burden on individual entrepreneurs. Higher taxes and increased social insurance contributions are major contributors to the trend. Additionally, stricter enforcement of regulations is playing a role in driving these businesses to close. The central bank indicates these pressures are accelerating the rate at which sole traders are exiting the market. This raises concerns about the health of the small business sector and potential impacts on the Slovak economy. The situation highlights challenges faced by individual entrepreneurs navigating the current economic landscape.