Small and Medium Enterprises in the Czech Republic - The Possibilities of Financing their International Business Activities

Možnosti financování zahraničních ekonomických aktivit malých a středních podniků v ČR

Eva Černohlávková

Acta Oeconomica Pragensia, 2005, vol. 2005, issue 2, 16-30

Abstract: At the beginning of nineties small and medium enterprises (SMEs) constituted a new phenomenon in the Czech economy. Their role increased during past fifteen years but the development and internationalisation of their activities have been influenced by many barriers. The shortage of financial recourses, lack of experience, information and knowledge were the most important among them. Step by step the institutions and business supporting services for SME were introduced. The financial market development caused the change of the attitude of Czech commercial banks towards SMEs in a positive way. Another reason of this shift is the support the commercial banks receive from the international financial institutions /EBRD, EIB/ for financing of SMEs. The EU accession has brought new incentives to the international business activities of SME. To increase their competitiveness the efficiency of using the financial resources of EU funds might be crucial. The best ways of the financial support of SMEs would probably be the forms which are connected with networking and cooperation among SMEs and management advice.

Keywords: small and medium enterprises; business finance (search for similar items in EconPapers)
JEL-codes: M13 M21 (search for similar items in EconPapers)
Date: 2005
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DOI: 10.18267/j.aop.174

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