Economic and Environmental Challenges of the Triple Transition in Small and Medium-sized Enterprises in the Visegrad Group

This article examines the development of selected indicators that reflect the economic and environmental aspects of the triple transformation of small and medium-sized enterprises (SMEs) in the Visegrad Group (V4) countries. The triple transformation – digital, green and circular – represents a fundamental challenge for businesses facing the pressure of modernization with limited capacities. The analysis is based on a quantitative comparison of data from the Eurostat database for the years 2019 to 2024, comparing individual V4 countries with the average of 27 European countries. The indicators assessed include real GDP per capita, R&D expenditure, circularity of materials and value added in environmental sectors. The results point to significant differences between individual countries and the EU in meeting the transformation goals, with SMEs in the V4 countries continuing to struggle with innovation, financial and systemic barriers. Based on the findings, the article formulates recommendations for public policy makers that could contribute to increasing the competitiveness and sustainability of SMEs in the Central European region.