Preliminary communication
https://doi.org/10.17818/DIEM/2022/1.6
EARLY IMPACT OF COVID-19 PANDEMIC ON ENTREPRENEURSHIP IN SLOVENIA; BASED ON GLOBAL ENTREPRENEURSHIP MONITOR DATA
Katja Crnogaj
; University of Maribor, Faculty of Economics and Business, Slovenia
Abstract
As the COVID-19 pandemic spreads around the globe, entrepreneurs, their ventures and societies face unprecedented challenges. Entrepreneurship fosters the innovation needed not only to take advantage of new opportunities, boost productivity and create employment, but also to address the economic shockwave triggered by the COVID-19 pandemic. Slovenia, as a small open economy, is particularly vulnerable to the effects of the pandemic. Therefore, the main objective of the paper is to analyse and compare how the entrepreneurial sector responded to the first lockdown situation in Slovenia. The data will be obtained from the Global Entrepreneurship Monitor database and the results will be compared with European countries. The question is whether the response of the entrepreneurial sector was to some extent dependent on the response of the government. The results allow a first approximation of the rapid changes that entrepreneurs have to face in order to adapt to the new scenario and prevent the deterioration of the economy or its reconstruction. Government policies need to be adapted to the economy's developmental level and depend on the type of entrepreneurship that needs to be encouraged. Policy makers need to create coherent, holistic and conducive frameworks for entrepreneurs to thrive in a post COVID -19 world. In sum, there is much potential for small businesses to contribute to the “post-covid economy”, especially if they are empowered through targeted support measures.
Keywords
entrepreneurship; entrepreneurship ecosystem; government policy; COVID-19; GEM data
Hrčak ID:
271738
URI
Publication date:
1.2.2022.
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