The business expectations and investment activity of small and medium-sized enterprises (SMEs) has picked up slightly in the last quarter. Based on the results of the IEER SME survey in April the business climate index increased slightly compared to the previous three months. Compared to January 2014, data from the Uncertainty Index was also higher, that is, the current and expected business situation with regards to the diversity of opinions slightly increased among SMEs. But this figure is still relatively low compared to the results of the previous survey. In view of the results and expected staff changes, there is an overall positive change in employment growth; at the same time, investment activity is decreasing.