Business Risks and the Level of Entrepreneurial Optimism among SME in the Czech and Slovak Republic
Journal Title: Journal of Competitiveness - Year 2014, Vol 6, Issue 2
Abstract
The aim of this article is to define and compare current trends within business risks among small and medium enterprises in selected regions of the Czech Republic and Slovakia in the context of entrepreneurial optimism. In 2013, the research on entrepreneurs’ opinions in the Zlín Region (Czech Republic) and Žilina Region (Slovakia) was conducted. These regions have similar economic parameters and are separated by only a few miles. According to our research, it can be stated that during the period of financial crisis, the situation in the SME business deteriorated significantly with declining performance and profitability of Czech and Slovak small and medium enterprises. The most important business risk is still market risk, followed by financial and eventually personal risk. Our research showed that the profitability of Czech and Slovak small and medium enterprises decreased by 15%. Despite these facts, the level of entrepreneurial optimism among SME in the selected regions of the Czech Republic and Slovakia is very high.
Authors and Affiliations
Jaroslav Belas, Jiri Machacek, Premysl Bartos, Roman Hlawiczka, Maria Hudakova
Keywords
Related Articles
- EP ID EP126618
- DOI 10.7441/joc.2014.02.03
- Views 166
- Downloads 0
Diversity Management as a Tool of Managing Intellectual Capital
As a result of various changes in the entrepreneurship environment with the aim to create value and gain sustainable competitive advantage, businesses more often pay attention to soft skills within the management and to...
On Some Aspects of Territorial Competitiveness: Smart Specialization in the Zlín 2020 Strategy
Territorial competitiveness is a development concept often cited these days. Currently, smart specialization represents a politically influential concept how to stimulate territorial competitiveness. This article deals w...
The Hierarchical Clustering of Tax Burden in the EU27
The issue of taxation has become more important due to a significant share of the government revenue. There are several ways of expressing the tax burden of countries. This paper describes the traditional approach as a s...
Students’ Satisfaction as a Competitive Advantage in the Financial Products Market: A Comparative Study
The main task of today’s banks, in both investigated countries, should be to prefer students’ satisfaction and strive to offer them what they want. Nowadays, banks own many tools for satisfying their customers, however,...
Impacts of the Global Crisis Period 2007-2010 on the Automotive Industry in the Czech Republic
The main aim of this article was to analyse the possible intensity of dependency of the Czech Republic, or more precisely, its total economic indicator Gross Domestic Product on realized Sales sector of the automotive in...