The business environment of small and medium-sized enterprises in selected regions of the Czech Republic and Slovakia

The aim of this article was to defi ne and compare current trends in the business environment of small and medium-sized enterprises in selected regions of the Czech Republic and Slovakia. In accordance with the objective, motivational factors, status in the society, levels of corruption, current business risks, approaches to loan fi nancing, the ability to manage fi nancial risks and business optimism in the business environment have been examined. In 2013, research into entrepreneurs' opinions in the Czech Republic (Zlin Region) and Slovakia (Zilina and Trencin Regions) was conducted. These neighbouring regions have similar economic parameters. According to our fi ndings, the most important motive for starting a business in the Czech Republic was to have a job. In Slovakia, the most important motive for starting a business was money. The results of our research confi rmed that the societies in both countries perceived the position of entrepreneurs relatively negatively. In both countries, entrepreneurs negatively noted the approach of the state to their needs and relatively high levels of corruption. Nowadays, the most important business risk was the market risk followed by fi nancial and personal risks. Due to a deterioration of the business environment, the performance of small and medium-sized enterprises has declined by at least 15% in both countries. In the Czech Republic, approximately 43% of entrepreneurs stated that banks accept their needs and behave appropriately to them. The positive perception of banks was signifi cantly lower in Slovakia: 23% of entrepreneurs in the Zilina Region and 35% in the Trencin Region. Many Czech and Slovak entrepreneurs indicated that they are able to manage fi nancial risks in their companies. Despite the signifi cant deterioration in the business environment, SMEs demonstrate business optimism, with about 90% of the entrepreneurs in both countries believing that their company will survive the next fi ve years.