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JOURNAL OF INTERNATIONAL STUDIES


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ISSN: 2306-3483 (Online), 2071-8330 (Print)



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Risk perception differences between micro-, small and medium enterprises

Vol. 8, No 3, 2015

Jaroslav Belás

 

Tomas Bata University in Zlín Czech Republic

 

belas111@gmail.com

Risk perception differences between micro-, small and medium enterprises

 Přemysl Bartoš

 

Tomas Bata University in Zlín Czech Republic

 

 bartos@fame.utb.cz

 

Aleksandr Ključnikov

 

Business and Law School Czech Republic

 

 aleksadr.kljucnikov@vsp.cz

 

Jiří Doležal

 

Tomas Bata University in Zlín Czech Republic

 

 dolezal@fame.utb.cz

ABSTRACT. The aim of this article is to define and compare the major determinants of financial and credit risks between micro-, small and medium enterprises. The research of entrepreneurs’ opinions about business environment in Czech Republic was carried out in 2015. We found that financial risk intensively impacts business environment, while only a small group of entrepreneurs stated they are able to properly manage those risks. Entrepreneurs agreed that the importance of credit risk increased during the crisis. Small and medium enterprises demonstrated better knowledge of credit conditions of commercial banks and gave more positive assessment of the transparency of these conditions as compared to  micro-enterprises.

 

Received: May, 2015

1st Revision: July, 2015

Accepted: September, 2015

 

DOI: 10.14254/2071-8330.2015/8-3/2

JEL Classification: L 26, O 16, G 32

Keywords: : micro enterprises, small and medium enterprises, risk management, financial risk, commercial bank, credit conditions