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Economic Crisis and Its Impact on SMEs: the Case of Visegrad Group Countries


  • Michal Tvrdoń

    (Silesian University, School of Business Administration in Karvina)

  • Werner Bernatík

    (Silesian University, School of Business Administration in Karvina)


The paper is focused on small and medium-sized entrepreneurship (SME) and its position within the European economy, especially Visegrad group countries. The Visegrad group economies are highly export-oriented and SMEs have a significant share of total exports. In the introduction of the paper authors present the importance of SMEs and entrepreneurship within the EU economies and the basic structure of SMEs. The second part of the paper contains an analysis of the development of the SME in the Visegrad group countries. As SMEs existence seems to be significant driven force for exports, there is also mentioned the contemporary economic crisis and its potential impact on SMEs.

Suggested Citation

  • Michal Tvrdoń & Werner Bernatík, 2010. "Economic Crisis and Its Impact on SMEs: the Case of Visegrad Group Countries," Journal of Women's Entrepreneurship and Education, Institute of Economic Sciences, issue 1-2, pages 114-130.
  • Handle: RePEc:ibg:jwejou:y:2010:i:1-2:p:114-130

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    Cited by:

    1. Petr Koráb & Jitka Pomenková, 2014. "Financial Crisis and Financing Constraints of SMEs in Visegrad Countries," WIFO Working Papers 485, WIFO.

    More about this item


    SMEs; economic crisis; European Union; Visegrad group;

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship


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