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Entrepreneurship in SME Segment: Case Study from the Czech Republic and Slovakia

Author

Listed:
  • Jaroslav Belás

    () (Tomas Bata University in Zlin, Zlin, Czech Republic)

  • Yuriy Bilan

    (University of Szczecin, Szczecin, Poland)

  • Valér Demjan

    (The Banking Institute of Prague, Banska Bystrica, Slovak Republic)

  • Juraj Sipko

Abstract

Definition and comparison of the current business environment of the Czech and Slovakian SMEs in the selected regions are the main objectives of the article. In accordance with this objective motivational factors, status in the society, relationship to the state, level of the corruption, approach to loan financing, and business optimism in the business environment have been examined. In details, there have been quantified the differences between the trading companies and the others, between the companies over 10 years old and the others, and between the micro-enterprises and the others. There were compared the opinions of entrepreneurs who stated that their main motivation to start a business was money to the opinions of other entrepreneurs. Our research has produced interesting findings. It was found out that money is an important motive for starting a business, although there are some regional differences in this area. Entrepreneurs negatively perceive the relationship between surroundings and their activities, the relationship of the state to the business and corruption that they encounter while performing their business activities. The businessmen rather criticized the banks’ approach of banks to fund their needs and at the same time they expressed a great deal of business optimism.

Suggested Citation

  • Jaroslav Belás & Yuriy Bilan & Valér Demjan & Juraj Sipko, 2015. "Entrepreneurship in SME Segment: Case Study from the Czech Republic and Slovakia," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(38), pages 308-308, February.
  • Handle: RePEc:aes:amfeco:v:38:y:2015:i:17:p:308
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    References listed on IDEAS

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    1. Hvide, Hans K. & Panos, Georgios A., 2014. "Risk tolerance and entrepreneurship," Journal of Financial Economics, Elsevier, vol. 111(1), pages 200-223.
    2. Canales, Rodrigo & Nanda, Ramana, 2012. "A darker side to decentralized banks: Market power and credit rationing in SME lending," Journal of Financial Economics, Elsevier, vol. 105(2), pages 353-366.
    3. Doris Neuberger & Solvig Räthke, 2009. "Microenterprises and multiple bank relationships: The case of professionals," Small Business Economics, Springer, vol. 32(2), pages 207-229, February.
    4. Anderson, Brian S. & Eshima, Yoshihiro, 2013. "The influence of firm age and intangible resources on the relationship between entrepreneurial orientation and firm growth among Japanese SMEs," Journal of Business Venturing, Elsevier, vol. 28(3), pages 413-429.
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    6. Soininen, Juha & Martikainen, Minna & Puumalainen, Kaisu & Kyläheiko, Kalevi, 2012. "Entrepreneurial orientation: Growth and profitability of Finnish small- and medium-sized enterprises," International Journal of Production Economics, Elsevier, vol. 140(2), pages 614-621.
    7. Keh, Hean Tat & Nguyen, Thi Tuyet Mai & Ng, Hwei Ping, 2007. "The effects of entrepreneurial orientation and marketing information on the performance of SMEs," Journal of Business Venturing, Elsevier, vol. 22(4), pages 592-611, July.
    8. Karolin Kirschenmann & Lars Norden, 2012. "The Relationship between Borrower Risk and Loan Maturity in Small Business Lending," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 39(5-6), pages 730-757, June.
    9. Moro, Andrea & Fink, Matthias, 2013. "Loan managers’ trust and credit access for SMEs," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 927-936.
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    Cited by:

    1. repec:mje:mjejnl:v:11:y:2015:i:2:p:65-77 is not listed on IDEAS
    2. repec:eco:journ3:2017-02-20 is not listed on IDEAS
    3. repec:mje:mjejnl:v:13:y:2017:i:2:p:129-140 is not listed on IDEAS
    4. Andrzej Bia³as, 2016. "Cost-Benefits Aspects In Risk Management," Polish Journal of Management Studies, Czestochowa Technical University, Department of Management, vol. 14(1), pages 28-39, December.
    5. repec:mje:mjejnl:v:12:y:2017:i:2:p:129-140 is not listed on IDEAS
    6. repec:hur:ijarbs:v:7:y:2017:i:11:p:210-226 is not listed on IDEAS

    More about this item

    Keywords

    Entrepreneurship; Small and medium-sized enterprises; business environment;

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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