PERCEPTION OF BUSINESS RISK BY ENTREPRENEURS ACCORDING TO EXPERIENCE WITH THE BUSINESS FAILURE

摘要

The aim of the article is to compare the attitudes to business risks and business failure among entrepreneurs that haveexperience with bankruptcy and entrepreneurs that do not have experience with bankruptcy in the business environment ofsmall and medium-sized enterprises. The main objective of the article is to evaluate business risks: market, economic, financial,strategic, personnel, legal, and operational risk; and statements about the experience with business failure. Questionnaires of454 small and medium-sized enterprises were collected and prepared for evaluation in 2020. Statistical hypotheses wererejected through the statistical method Z- test. The results showed interesting findings. The most important business risks arethe market, financial, and personnel risk according to entrepreneurs. Entrepreneurs without the experience of business failurehave more positive attitudes (66.7%), and there is no risk of bankruptcy to their company for 5 years than entrepreneurs withexperience of business failure (45.2%). The next finding is that entrepreneurs without the experience of business failure havemore positive attitudes (60.6%) to the rate of the market risk (lack of sales for my company) as adequate than entrepreneurswith experience with business failure (38.4%). Also, it was shown that entrepreneurs without experience with business failurehave more positive attitudes (59.8%) to the error rate of employees, which is low and has no negative impact on my (our)business than entrepreneurs with experience of business failure (53.4%).