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Crisis Resilience of Startup Companies (The Case of Hungary among the Visegrad Countries with a Focus on the Pandemic)

Author

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  • Petra Kinga Kézai

    (Department of Leadership and Marketing, Kautz Gyula Faculty of Business and Economics, Széchenyi István University, Egyetem Square 1, H-9026 Győr, Hungary)

  • Attila Kurucz

    (Department of Leadership and Marketing, Kautz Gyula Faculty of Business and Economics, Széchenyi István University, Egyetem Square 1, H-9026 Győr, Hungary)

Abstract

The study examines the crisis resilience of startup companies in Hungary among the Visegrad countries as a result of the pandemic situation. It aims to provide guidance on what support is needed for startups in the post-crisis period to re-launch the economy and to contribute to the region’s economy with positive results. The research was carried out in two stages: first, in 2021 through an online survey, and then, in 2022 in-depth interviews due to the economic crisis caused by COVID-19 and the Russian–Ukrainian war. A mixed research methodology was used, which comprised an online questionnaire administered in the Crunchbase database ( n = 97) and in-depth interviews among startup founders and experts of the startup ecosystem ( n = 22). The research summarizes the V4 countries’ measures to protect entrepreneurship with a particular focus on startups. The research found that a crisis such as a pandemic did not have a uniformly negative impact on startups. The winners of the economic crisis are startups in IT, healthcare (Medtech. health-tech), e-commerce and digital education, while those who fared worst are startups in tourism and hospitality. The positive impact of the crisis has been a cleansing of the startup ecosystem. Business support measures supported the viable startups and helped them survive.

Suggested Citation

  • Petra Kinga Kézai & Attila Kurucz, 2023. "Crisis Resilience of Startup Companies (The Case of Hungary among the Visegrad Countries with a Focus on the Pandemic)," Sustainability, MDPI, vol. 15(9), pages 1-25, April.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:9:p:7108-:d:1131316
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    References listed on IDEAS

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    Cited by:

    1. Judit Vitéz-Durgula & Anna Dunay & Gergő Thalmeiner & Balázs Vajai & László Pataki, 2023. "Financial Analysis and Survival Research of the Visegrad Countries’ Health Industries," Sustainability, MDPI, vol. 15(16), pages 1-23, August.
    2. Loredana Gherasimescu & Florin Imbrea & Ilinca Imbrea & Laura Șmuleac & Raul Pașcalău & Cosmin Alin Popoescu & Piotr Prus & Cosmin Sălășan, 2023. "The Impact of COVID-19 Lockdown on West Romanian Crop Production in 2020," Sustainability, MDPI, vol. 15(18), pages 1-17, September.
    3. Anna Sobczak & Ewa Chomać-Pierzecka, 2024. "Challenges and Opportunities for the Development of Polish Enterprises in the Face of Crisis Threats," World, MDPI, vol. 5(2), pages 1-18, June.

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