Aleksandr Ključnikov

A model of measurement of the quality of business environment in SME segment

Th is paper presents a theoretical and methodological model of measurement of the quality of business environment in the segment of Small and Medium-Sized Enterprises (SMEs) and introduces an IQSME index. Th e paper presents the way of selection and defi nition of the important factors that form business environment, the analysis of their interconnections and quantifi cation of their infl uence. According to the results of the application of the created model we can state that the conditions for doing business in the Czech Republic are quite challen ging. Th e value of IQSME for the Czech Republic is at the lower end of the range of possible values. We found that Czech entrepreneurs quite negatively evaluate the government’s approach and its attempts to develop suitable conditions for doing business, the attitude of the fi nancial market players in providing the opportunities of external fi nancing for their entrepreneurial activities, current level of business risks, but are satisfi ed with the attitude of their surroundings to their business activities.

ACTUAL PROBLEMS OF BUSINESS RISK IN SME SEGMENT. CASE STUDY FROM SLOVAKIA

Abstract The aim of this article was to define, quantify and compare the significant attributes of business risk for small and medium-sized enterprises (SMEs) in the selected regions of Slovakia. The data was collected through a questionnaire. The whole research was conducted in the Bratislava region on a sample of 102 SMEs, in the region of Trencin on a sample of 105 SMEs and in the Zilina region on a sample of 168 SMEs. Thus we compared important factors of business risk in the most economically developed region of the Slovak capital to the average regions of Trencin and Zilina. On the basis of the results of our research, we can conclude that the most important business risk is market risk in all regions. The average value of perceived market risk was higher than 50%. For this reason entrepreneurs have indicated the existence of negative trends in performance and profitability of their companies.

APPROACHES OF CZECH ENTREPRENEURS TO DEBT FINANCING AND MANAGEMENT OF CREDIT RISK

The aim of this article was to define, quantify and compare significant factors of the debt financing in the segment of SMEs. The research focused on the significant differences between groups of entrepreneurs, defined in relation to gender, education, size and age of the company, was carried out in the Czech Republic in 2015 on a sample of 1,141 respondents. We found that while the importance of the credit risk increased during the crisis, the level of knowledge of conditions under which commercial banks provide loans is relatively low between entrepreneurs. Entrepreneurs presume that the credit conditions in commercial banks are not transparent, but agree that the better knowledge of credit criteria allows for easier access to funding. Substantial differences in the assessment of the factors of credit risk by defined groups of entrepreneurs were identified.

Are Men More Innovative and Aggressive in Business? Case Study from the Czech Republic

Abstract 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.

Credit standards and factors affecting their strictness in the segment of SMEs in the Slovakia

Credit standards have a strong impact on GDP and the average size of provided loans within the economy. The aim of this paper is to investigate whether such factors as the age of entrepreneurs and the size of their companies are relevant, and have a significant impact on the perception of credit standards. The research is focused on the impact of the selected factors and comparison of the perception of strictness of credit conditions before and after the crisis on the basis of the data from two surveys carried out among 756 Slovak companies back in 2008 and then in 2016. Basing on the Pearson ́s chi-square analysis of the results we may present the statistical evidence that the age of an owner and the size of a company have significant impact on the perception of loan criteria, while the impact of company’s size has higher intensity.

Comparative Study of the Perception of Financial and Credit Risks among Slovak and Czech Entrepreneurs: Impact of Gender, Level of Education and Business Experience on SMEs

Financial and credit risk has become a widely discussed topic in relation to the recent financial and economic crisis. The aim of this chapter is to bring statistical evidence about the impact of the selected factors (gender, level of education and business experience) on the perception of financial and credit risks by the entrepreneurs in Slovakia and the Czech Republic and to identify whether the entrepreneurship in these regions is influenced by identical or different factors. The research data were obtained through the surveys carried out in 1579 smalland medium-sized enterprises (SMEs) in these countries in 2016. Pearson ́s chi-square analysis was applied to confirm statistically significant dependencies. Our results show that while the gender and the level of business experience of the entrepreneur could be considered as factors with the substantial impact on the perception of financial risk in both countries, the level of education (university degree) does not have a significant impact in the researched data sample.

Which Clients Use More Banks and Banking Products

The aim of this article was to determine whether satisfied bank customers were buying more bank products and services from several banks in comparison with clients who were dissatisfied with their bank services. At the same time it was also studied the dependence of buying banking products and the use of banks depending on sex, age and educational structure of consumers. In our research a special questionnaire survey was used, which was subsequently evaluated with the help of mathematical and statistical methods. Our research has not shown that satisfied clients used more banking products as customers who were dissatisfied. It was found that both in Slovakia and the Czech Republic bank customers aged 30 to 50 years old significantly more were buying 3 banking products. Number of banks that are used by Czech banks’ clients depends on customer satisfaction. The research results point to the need for achieving high levels of customer satisfaction. Suitable form of monopolization of relationships with clients allow banks to increase the value of CSI (Cross Selling Index) due to the influence of positive motivational factors, which usually bring the growth of the financial performance of commercial banks. DOI: 10.5901/mjss.2015.v6n6p339