IMPACT OF SOCIAL FACTORS ON FORMATION OF BUSINESS ENVIRONMENT FOR SMES
IMPACT OF SOCIAL FACTORS ON FORMATION OF BUSINESS ENVIRONMENT FOR SMES

Summary/Abstract: The objective of this article was to identify the important social factors influencing the quality of business environment for small and medium-sized enterprises (SMEs), to quantify their intensity, and compare the differences between Czech Republic (CR) and Slovak Republic (SR). In this context, empirical research was conducted on SMEs in Czech Republic and Slovakia. Within this research, data from 312 SMEs in CR and 329 SMEs in Slovakia were obtained. For data processing, chi-squared test and Z-score were used. The research results brought interesting findings. Entrepreneurs in both countries have negatively assessed the attitude of politicians, public opinion, and media to their business activities. They see the positive impact of family environment on business activities. They particularly appreciate the support and help they get from the family. It follows that family environment is motivating but not with the expected intensity. A surprising fact is that entrepreneurs do not agree than in general, entrepreneurs possess more money and better social status. Entrepreneurship is associated with better professional growth, interesting work opportunities, and full use of own skills. The research has confirmed the existence of significant differences in evaluating the defined factors in both countries.

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