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