ASSESSMENT OF THE FINANCIAL RISKS OF THE SMALL AND MEDIUM-SIZED ENTERPRISES IN SLOVAKIA

The category of the SMEs is considered to be the most flexible, the most effective and the most progressive part of economy both in the developed countries and in Slovakia. The SMEs are very sensitive to the changes in the entrepreneurial environment and therefore it is important for them to know th...

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Bibliographic Details
Main Authors: Hudakova, Maria, Masar, Matej, Buganova, Katarina
Format: Conference Proceeding
Language:English
Subjects:
Business services
Construction industry
Corporate profits
Developed countries
Entrepreneurship
Financial analysis
Profitability
Profits
Risk assessment
Risk management
Small & medium sized enterprises-SME
Small business
Statistical methods
Trends
Value added
Variance analysis
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Summary:The category of the SMEs is considered to be the most flexible, the most effective and the most progressive part of economy both in the developed countries and in Slovakia. The SMEs are very sensitive to the changes in the entrepreneurial environment and therefore it is important for them to know the risks that threaten their business activities. Several studies worldwide say that a reliable risk management ensures fewer negative surprises, a higher financial stability of the company and provides opportunities for achieving profits. The essence of this article is, based on our empirical research realised in 2017, to assess the financial risks perceived by the owners and managers of the SMEs in Slovakia. Based on the results, we found out the financial risks were considered the second most serious risks that negatively affect the entrepreneurial environment of the SMEs. The selected statistical methods and tools used show that the perceived financial risks do not depend on the company size but they are dependent on the duration of their business in the Slovak conditions. The overall research results emphasise the importance to deal with the entrepreneurial risk assessment in the SMEs not only in Slovakia but also in other countries.
ISSN:1849-6903
1849-6903