Entrepreneurial strategies and problems in post-communist Europe: a survey of SMEs in Slovakia

A vibrant entrepreneurial climate can assist post-Communist European countries in making the transition to a market economy. However, many of these nations are burdened with industrial districts organized into single large industrial complexes that are experiencing tremendous difficulty competing in the new market-driven, keenly competitive environment (Smith 1994; Hughes and Hare 1992). There is a growing consensus that true economic success for East Central Europe will come from newly formed small and medium-sized enterprises (SMEs). Due to their simple yet flexible structures, SMEs adjust more easily to the rapidly changing demands of the global economy (Brunner 1993; Fitzroy 1993; Julien 1993). Thus, policies that encourage the growth of SMEs can be an important component of regional economic development for post-Communist Europe.