Ekonomika a management
KEY DETERMINANTS OF THE QUALITY OF BUSINESS ENVIRONMENT OF SMES IN THE CZECH REPUBLIC
The business activity of small and midsize enterprises plays an important role in the individual economies of the European Union. In this regard, Cumming, Johan, and Zhang (2014) and Gawel (2010) indicate that entrepreneurship has a signiﬁcantly positive impact on GDP/capita, exports/GDP, and patents per population, and a negative impact on unemployment.
Jméno a příjmení autora:
Zuzana Virglerová, Lubor Homolka, Luboš Smrčka, Kornélia Lazányi, Tomáš Klieštik
Business environment, SMEs, risk management, quality of business environment of SMEs
DOI (& full text):
The business environment is determined by various obstacles the business owners have to deal with in the course of their work. This article aims to create a model of the quality of business…více
The business environment is determined by various obstacles the business owners have to deal with in the course of their work. This article aims to create a model of the quality of business environment, deﬁ ne the key determinants of this model, and quantify the correlations among the individual determinants in the area of small and medium-sized enterprises (SMEs) in the Czech Republic. Partial results of a survey carried out at the Tomas Bata University in Zlín in 2015 were used for the analysis. On the basis of previous surveys, four determinants were set that inﬂuence the quality of business environment (State, Public perception, Financial markets and banks, Business risks). From these four areas, questions were selected and asked to business owners in the Czech Republic in the abovementioned survey. Links were identiﬁ ed among selected questions asked to the owners. These links led to adjusting the business environment to four determinants: State and public perception, Banks and their approach to business, Knowledge of rules and principles, and ﬁ nancial risks and their increase in post-crisis time. Subsequently, correlations were identiﬁ ed among these determinants. It was ascertained that the knowledge of the conditions of the ﬁ nancial system leads to a positive perception of the banks’ approach in terms of external ﬁ nance. Moreover, a positive inﬂuence of the banking sector on how the business owners perceive ﬁnancial risks was identiﬁed. Another important result of the survey is the fact that business owners who have the necessary knowledge of the ﬁnancial market perceive ﬁnancial risks as less intense compared to those lacking such knowledge of the ﬁnancial market.
Ekonomika a management