Transformations  in
Business & Economics

BUSINESS ENVIRONMENT QUALITY MODEL IN THE SME SEGMENT
Martin Cepel, Jan Dvorsky, Elena Gregova, Jaromir Vrbka

ABSTRACT. The aim of the paper is to construct and interpret a structural model of correlations between the business environment quality (QBE) and factors determining the quality of the business environment. Regarding the defined aim, we have designed an online questionnaire in order to gain attitudes from enterprises operating in the SME segment. The sample consists of 329 enterprises from the Slovak Republic. The authors applied a confirmatory factor analysis and a structural equation modelling to quantify the regression and causal correlations between the QBE and selected factors. Research results have yielded interesting findings. The selected economic, political, social and technological factors have an impact on the QBE in Slovakia. The most important factor is the macroeconomic environment. This factor is followed by monetary policy and interest rates. The third most important factor is the state regulation and business support. The research conclusions are mainly intended for state-owned business support organizations, business associations and enterprises.

KEYWORDS:  entrepreneurship; factors; quality of the business environment.

JEL classification:  G23, L26, L52, M21..