Original scientific paper
https://doi.org/10.1080/1331677X.2020.1844588
Business risk management in the context of small and medium-sized enterprises
Jan Dvorsky
Jaroslav Belas
Beata Gavurova
Tomas Brabenec
Abstract
The aim of this paper is to review the impact of entrepreneurs’
attitudes toward the defined business risks on the perception of
the future of small and medium-sized enterprises (SMEs). 454
SMEs from the Czech Republic (CR) participated in the research
and completed an online questionnaire. Structural equation modelling and factor analysis were used to identify the causal relationships between the examined variables. Entrepreneurs’ attitudes
toward business failure also have a positive effect on the future
of the SME. The perception of financial risk in positive indicators
of financial performance and the perception of financial risk as
part of the company’s everyday life have the most significant
impact on future business. Operational risk is reflected in the utilisation of corporate resources, reducing customer complaints
about the quality of the company’s products and the company’s
independence of a limited number of suppliers. The company’s
sales volume adequacy provides a source of market risk. It has
the third strongest positive impact on the future business in the
SME segment. The research results provide a valuable platform
for the authors of national and regional development strategic
plans looking for SME support and development as well as the
authors of the relevant policies.
Keywords
Small and medium-sized enterprises; business failure; business environment; business risk; companys future
Hrčak ID:
301255
URI
Publication date:
31.12.2021.
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