Actual problems of business risk in SME segment. Case study from Slovakia

Belás, Jaroslav; Bilan, Yuriy; Ključnikov, Aleksandr; Vincúrová, Zuzana; Macháček, Jı̆rı́

doi:10.37335/ijek.v3i1.26

Cited by 7 publications

(8 citation statements)

References 6 publications

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“…Average performance decrease was represented by 15.80% in the Czech Republic (Belás, Macháček et al, 2014). The situation is similar in Slovakia, where market risk was identified as the key risk by the largest number of entrepreneurs and the performance of SMEs compared with pre-crisis period have decreased by at least 15% (Belás, Bilan et al, 2015).…”

Section: Theoretical Backgroundmentioning

confidence: 75%

Approach of the SME Entrepreneurs to Financial Risk Management in Relation to Gender and Level of Education

Belás¹,

Ključnikov²,

Vojtovič³

et al. 2015

E&S

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Financial risk management is an important area of management of small and medium-sized enterprises (SMEs). The ability of SMEs to grow highly depends on their potential to invest money to the development of their companies. These investments need capital and therefore an access to internal or external financial sources. Many authors agree that SMEs have restricted access to external sources of financing. The aim of this article is to define and compare important determinants of financial risk in the segment of small and medium-sized enterprises. The research of entrepreneurs' opinions was carried out in 2015 in the Czech Republic, and was focused of the investigation of the influence of such factors as gender and level of education of entrepreneurs on the approach to financial risk management. We found out that three quarters of entrepreneurs in the segment of SMEs in the Czech Republic perceive the intense action of financial risk, but at the same time their ability to properly manage financial risks in the segment of SMEs is not at an appropriate level. The importance of financial risk increased during the crisis, which is reflected in the challenging approach of SMEs to external funding. We found that only relatively small number of entrepreneurs creates the financial reserves in their companies, and so this approach does not have the significant weight in the SME segment. Significant differences in approaches of the SME entrepreneurs to financial risk management in relation to gender and level of education were not identified.

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Section: Theoretical Backgroundmentioning

confidence: 75%

Approach of the SME Entrepreneurs to Financial Risk Management in Relation to Gender and Level of Education

Belás¹,

Ključnikov²,

Vojtovič³

et al. 2015

E&S

Self Cite

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“…If an entrepreneur is unwilling to take risk (risk aversion), then he will never be able to realize the talent and spirit of entrepreneurship. Belas et al (2015) conclude that the most important business risk is market risk.…”

Section: Entrepreneur and Risk Profilementioning

confidence: 93%

The Factors Affecting Entrepreneurship Intention

Herdjiono

Maulany

Aldy

2017

IJEK

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This research examined the effects of family environment, self concept, motivation and risk taking propensity on entrepreneurship intention in Merauke, the border area of Indonesia. Conducted by collecting data from 382 college student through questionnaire. This study applied linear regression analysis. The results showed family environment, self concept, motivation and risk taking propensity significantly affected entrepreneurship intention. The study implies that individual factor such as self-concept, motivation, and risk taking propensity together with social factor, family environment affect entrepreneurial intention.

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“…The situation is similar in Slovakia, where it was found out that the most important business risk was market risk (average value of perceived market risk was higher than 50%). (Belás, Bilan, Ključnikov, Vincúrová, and Macháček, 2015) The research results showed that men are slightly more innovative in developing new products and that both genders have the reserved attitudeto the financial investment in the development of new methods and technologies.…”

Section: Results and Short Discussionmentioning

confidence: 99%

Are Men More Innovative And Aggressive In Business? Case Study From The Czech Republic

Bartoš

Ključnikov²,

Popesko

et al. 2015

IJEK

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SMEs make a major contribution to the growth and employment in the EU. In today’s fierce competition in the market economic activities the SMEs had gradually developed into a major force for national economic and social development in every country of world. The aim of this article is to examine the approach to innovativeness and competitive aggressiveness between males and females in the segment of small and medium-sized enterprises. Based on the results of the questionnaire which was conducted in May 2015 in the Czech Republic we tried to test four hypotheses on the relationship between the gender of entrepreneurs of SMEs and their attitude to innovativeness and competitive aggressiveness. The results of our research have pointed out some differences between genders. Men-entrepreneurs who do business in the segment of SMEs in the Czech Republic are slightly more innovative and are significantly more aggressive in regard to competitors than women, as they apply aggressive approach and their companies are perceived as aggressive.

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Actual problems of business risk in SME segment. Case study from Slovakia

Cited by 7 publications

References 6 publications

Approach of the SME Entrepreneurs to Financial Risk Management in Relation to Gender and Level of Education

Approach of the SME Entrepreneurs to Financial Risk Management in Relation to Gender and Level of Education

The Factors Affecting Entrepreneurship Intention

Are Men More Innovative And Aggressive In Business? Case Study From The Czech Republic

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