Significant Attributes of the Business Environment in Small and Meduim-Sized Enterprises

Information
Title: Significant Attributes of the Business Environment in Small and Meduim-Sized Enterprises
Issue: Vol. 7, No 3, 2014
Published date: 20-09-2014 (print) / 20-09-2014 (online)
Journal: Economics & Sociology
ISSN: 2071-789X, eISSN: 2306-3459
Authors: Jaroslav Belás
Přemysl Bartoš
Jozef Habánik
Petr Novák
Keywords: small and medium enterprises, business risks, status, motivation, feelings of entrepreneurs
DOI: 10.14254/2071-789X.2014/7-3/2
DOAJ: https://doaj.org/article/72194cbcffd541809257d2c96ab7b0e3
Language: English
Pages: 22-39 (18)
JEL classification: L26, O16, G21
Website: https://www.economics-sociology.eu/?276,en_significant-attributes-of-the-business-environment-in-small-and-meduim-sized-enterprises
File https://www.economics-sociology.eu/files/06_48_Belas_Bartos_Habanik_Novak.pdf
Abstract

Aim of following contribution is to define and quantify selected attributes of the business environment in Small and medium-sized enterprises (SME). In this context, our own research was prepared and gradually implemented, where the intensity of individual business risks, status, motivation, feelings of entrepreneurs in SME segment, relationship to the bank, state, society, and business optimism in the Czech Republic and Slovakia was analyzed. Due to the global financial crisis, conditions for SME business have worsened. Average decrease in the profitability amounted in 10.44% in the Czech Republic, and in Slovakia 12.01%. The most important business risk for SME is the market risk (lack of market space for the realization of own production). In the Czech Republic 79.44% and 80.49% of Slovak entrepreneurs reported market risk as a key business risk at present. The perception of entrepreneurs by the society and by the state is not good in both of countries. In the Czech Republic and in Slovakia, lots of firm owners have met with corruption and cronyism. Despite the deterioration in the business environment, Czech and Slovak entrepreneurs are very optimistic. Results of our research confirmed that there is necessary to form complex conditions for business development of small and medium-sized businesses in both countries.