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1、Journal of Small Business Management 2001 39(1), pp. 103109 ?GLOBAL PERSPECTIVE An Analysis of Entrepreneurial Environment and Enterprise Development in Hungary by Georgine Fogel The term “entrepreneurial environ- ment”referstoacombinationoffactorsthat play a role in the development of en- trepreneu
2、rship.Empiricalstudiesontheen- trepreneurial environments of various countries show that countries that keep rulesandregulationsataminimum,offertax and other incentives, and provide training andcounselingservicestostart-upentrepre- neursincreasethelikelihoodofnewventure development (Dana 1987, 1990)
3、. Further- more,factorssuchastheavailabilityoffinan- cial resources, being in large urban areas, and the presence of universities for training and research are also found to be very im- portantinincreasingtherateofnewventure creations (Pennings 1982). Studies also show that entrepreneurs face severa
4、l obsta- cles including lack of financial assistance, lack of information on various aspects of business,excessivetaxation,andhighratesof inflation(YoungandWelsch1993;Fogel1994). Scholars recommend a variety of policy options for developing entrepreneurship. These mayinclude providingventurecapi- ta
5、l funds, tax-based incentives, and gov- ernmentprocurementprograms; protecting proprietary ideas and innova- tion; investing in education and research; rewarding entrepreneurship; and mini- mizing entry barriers (Goodman, Meany, and Pate 1992; Zapalska and Fogel 1998). There seems to be an agreement
6、 among researchers that the more condu- cive the business environment, the more likely new businesses will emerge and grow. Individuals are more likely to be encouraged to start a business when the social environment values entrepreneur- ship, opportunities are available, and en- trepreneurs have su
7、fficient knowledge and skills to start and manage a business. The encouragement of private business activity has been an important element in the economic transformation of Central and Eastern Europe (CEE). Research shows that small business development in CEE countries has been influenced to a grea
8、t extent by macroeconomic factors such as inflation rates, price stability, inter- est rates, credit conditions, capital inflows and outflows, and the availability of eco- nomic inputs (capital, labor, material, and technology). This study examines how much progress has been made in enter- prise dev
9、elopment by one CEE country, Hungary, and which elements of the busi- ness environment could be improved to foster entrepreneurial growth. Conceptual Framework The environmental conditions of en- trepreneurial activities in Hungary were ex- amined using Gnyawali and Fogels (1994) conceptualframework
10、.Thisframeworkuses five dimensions: (1) financial assistance; (2) non-financial assistance; (3) entre- preneurial and business skills; (4) socio- economic conditions; and (5) policies and procedures for entrepreneurial activities. Financial Assistance to Small Busi- nesses. It is suggested that entr
11、epreneurs GLOBAL PERSPECTIVE103 require financial assistance for at least one of three purposes: to diversify or spread the start-up risk, to accumulate start-up capital, and to finance growth and expan- sion. While the availability of financial re- sources can be a major predictor of the frequency
12、of business start-ups, many lenders are unwilling to invest in high-risk projects or tend to withhold support until the firm has been established successfully (Pennings 1982). In most developing countries and emerging market econo- mies, venture capital companies and alter- native sources of financi
13、ng are almost non-existent.Thus,entrepreneursinthese countries are stymiedthey cannot start a businesswithoutfinancialassistancewhile at the same time, theycannot secure finan- cial assistance because they lack collateral or prior business experience (Gnyawali and Fogel1994;ZapalskaandFogel1998). No
14、n-Financial Assistance to Small Businesses. It is also suggested that entre- preneurs need support services in addi- tion to financial assistance. In particular, entrepreneurs need assistance in conduct- ing market studies, preparing business plans, and getting loans. Business incuba- tors can play
15、a major role in providing services to start-up entrepreneurs (Hoy et al. 1991), especially in areas where infra- structure is not well developed or where modern physical facilities are costly. Net- works are another important source of non-financial assistance. According to Aldrich (1986), entrepren
16、eurs spend nearly half their time during the start-up phase in developing contacts and net- works with other entrepreneurs and re- lated agencies. Networks provide four essential kinds of assistance to entrepre- neurs: (1) support and motivation; (2) ex- amples and role models; (3) expert opinion an
17、d counseling; and (4) access to opportunities, information, and resources (Manning, Birley, and Norburn 1989). Entrepreneurial and Business Skills. The level of technical and business skills is also a major factor in successfully starting and developing a small business (Davidsson1991;Vesper1983). U
18、nlessen- trepreneurs are well equipped with tech- nical and business skills, they may not be able to overcome problems at different stages of their firms development. Re- search shows that the need for training programs is greater in countries where external assistance and preferences for small busi
19、ness are limited. In Sweden, both business-related experience and business education were highly correlated with the entrepreneurs ability to start and manage a business (Davidsson 1991). Training and educational services are par- ticularly important in emerging market economiesbecauseentrepreneursl
20、ackba- sic business skills (Fogel 1994). Swanson and Webster (1992) found that 30 percent of the Czech entrepreneurs surveyed re- quested training in the areas of preparing business plans, decision-making, negotiat- ing, pricing, market penetration, handling of cash-flow, organization, and managing
21、the business. Socioeconomic Conditions. Entre- preneurship prospers if society views it withafavorableattitude.Societiesand cul- tures that value entrepreneurship tend to develop societal systems to encourage it (Vesper 1983). It has been noted that among the Chinese, entrepreneurial role models enc
22、ourage people to go into busi- ness, and entrepreneurs are often sup- ported by close networks of family members and relatives (Kao 1993; Siu and Martin 1992). Programs that develop so- cietal awareness of entrepreneurship have apositiveeffectonsmallbusinessdevelop- ment and growth. Research also sh
23、ows that tax and other start-up incentives have a positive impact on small business estab- lishments and growth (Davidsson 1991). Policies and Procedures for Entre- preneurial Activities. Entrepreneurs may be discouraged from starting a business if they have to adhere to an excessive number ofrulesa
24、ndprocedures.The level of procedural requirements for registra- tion and licensing, taxes, and financial re- porting may either facilitate or hinder 104JOURNAL OF SMALL BUSINESS MANAGEMENT entrepreneurial activities. Research shows thatmostsmallbusinessesconsiderpaper- work very time-consuming and c
25、umber- some(Dana1987,1990;YoungandWelsch 1993; Fogel 1994). Countries that keep procedural requirements to a minimum generally have a viable and dynamic en- trepreneurial sector. Research Methods The research method used in this study consisted of mail surveys and telephone interviews of small busin
26、ess owners and operatorsinHungary.Assistanceinobtain- ing directories and contact lists was re- ceived from the regional offices of the Hungarian Chamber of Commerce, the Hungarian National Association of Small and Medium-Size Enterprises (SMEs), the Ministry of Commerce and Industry in Hungary, and
27、 the Hungarian Trade Com- mercial Office in New York. The sample included 280 small businesses having op- erated for at least one year and having an initial capital investment of $1 million Hungarian Forint. Data were collected on- site in 1999. The questionnaire elicited information about the size
28、and nature of operations, the owners educational back- ground and previous business experi- ence, the owners business objectives, financial assistance received and desired, non-financial assistance received and de- sired, business training needs, percep- tions of socio-economic conditions of entrepr
29、eneurship, public attitude, and so- cietal promotion and recognition of en- trepreneurial success. The questionnaire alsoexploredtheownerssatisfactionwith conditions in the entrepreneurial, includ- ing taxation, incentives, credit financing, laws, regulations, licensing, paperwork re- quirements, an
30、d preferences given to small business. Findings The majority (63 percent) of the small businesses surveyed had been in business for at least three years. One in five (22 percent) had been in business for five years. Thirty-two percent were involved in small-scale manufacturing or production (plastic
31、s, electrical components, timber processing, wood working, and food pro- duction), with about two-thirds (68 per- cent) in service activities (real estate, engineering designs, computer technolo- gies, restaurant operations, travel, tour- ism, retailing, consulting, brokerage, and professional servi
32、ces). Regarding size of operations, 42 percent had fewer than 10 employees, 27 percent reported 10 to 29, and 31 percent employed 30 or more. In terms of the owners personal back- ground, one third (33 percent) indicated some college or university education, and all survey participants noted several
33、 years of work experience in the field of the busi- ness. Although only a few (18 percent) reported formal business training or prior business experience, close to half (46 per- cent) had technical training. Regarding sources of initial capital, 25 percent indicated reliance on loans or company-assi
34、sted funds. The majority (57 percent) relied on personal savings. In fact, many participants maintained full- time employment to be able to support their business. Friends and family mem- bers were mentioned by 18 percent as the major source of financial assistance. Their primary reasons for startin
35、g the business included market opportunity (33 per- cent), need for additional family income (30 percent), unemployment/company layoff (20 percent), and independence (17 percent). Information about financial and non- financial assistance and entrepreneurial business skills is presented in Table 1. I
36、n all three categories, there was a consider- able difference between what Hungarian small businesses received and what they desired. In the area of financial assistance, the three most desirable forms of assis- tance were tax incentives, low-cost, long- term loans, and venture capital/project finan
37、cing. Close to half the businesses sur- veyed (48 percent) reported a need for more tax incentives. Similarly, many (42 GLOBAL PERSPECTIVE105 percent) desired low-cost, long-term loans, and almost one fourth (22 percent) expressed a need for venture capital and projectfinancing.Incontrasttowhatthese
38、 Hungarian entrepreneurs wanted, the pat- tern of financial assistance they actually received reflected an overwhelming reli- ance on personal sources. A third (34 per- cent) of the businesses borrowed primarily from friends and family, and more than one in four (28 percent) relied on short-term cre
39、dit financing. The most desirable kinds of non-finan- cial assistance were business network de- velopment (44 percent), small business management training (40 percent), and technical assistance, mostly for manage- ment information system development (30 percent). The study also found that 10 percent
40、oftheparticipantswereinterested in utilizing the services of incubator cen- ters and industrial parks. Compared to the support needed, however, the majority (35 percent) ended up relying on friends and family for support for the business. Personal networking and assistance by economic development ag
41、encies, includ- ingthe Chamber ofCommerce, localtrade organizations, fairs and industry shows, were noted as the second most important non-financial support received. Participa- tion in management trainingseminars and programs was reported by one fourth (19 percent) of the businesses surveyed. In th
42、e area of “entrepreneurial and business skills,” the data indicated the same gap between the availability and needforbusinessskillstraining.Abouthalf Table 1 Small Business Assistance and Entrepreneurial Business Skill Development in Hungary (in percent) Types of AssistanceReceivedDesired Financial
43、assistance Borrowing from friends and family34 Short-term credit (bank loan)1810 Venture capital/project financing1618 Tax allowance and credits648 Low-cost long-term loan38 Non-financial assistance Friends and family35 Business networks (economic development agencies, chambers of commerce, trade re
44、presentatives, trade fairs, industry shows2844 Small business management training, workshops, and seminars1940 Technical assistance, management information systems830 Incubator centers/industrial parks10 Entrepreneurship and business training Management training programs2552 Marketing studies and sa
45、mple business plans1546 Customer data analysis and information system development840 Advertising skill workshops536 Consulting and case studies324 106JOURNAL OF SMALL BUSINESS MANAGEMENT the respondents (52 percent) desired more management training programs in- cluding marketing studies, sample busi
46、- ness plans, customer data analysis, information system development, and ad- vertising. It was also found that one in five of the businesses desired consulting serv- ices or case study opportunities. Data on socio-economic conditions of entrepreneurshiparepresentedinTable2. The analysis consisted o
47、f calculations of means offivefactorswithratingsonascale of 14, where 1 = must be improved, 2 = fair, 3 = average, and 4 = good. The highest rating was reported on “economic growth and market opportunities for en- trepreneurs” (M = 2.76). “Public attitude” in Hungary was also rated fairly high (M =
48、2.44). The lowest rating (M = 2.03) was observed on “promotion of entre- preneurialsuccess,”with35percentreporting it as “must be improved.” “Entrepreneurial Table 2 Perceptions of Socio-Economic Conditions for Entrepreneurship in Hungary (percentages and means) Socio-Economic ConditionsMust be Impr
49、oved FairAverage Good Meana (1)(2)(3)(4) Public attitude toward entrepreneurship22 percent2246102.44 Promotion of entrepreneurship success35322852.03 Training of entrepreneurial skills421825152.13 Recognition of entrepreneurial success38223282.10 Economic growth and market opportunity152235282.76 for entrepreneurs aRating Scale: 1 = Must be Improved; 2 = Fair; 3 = Average; and 4 = Good. Table 3 Policies and Procedures for Entrepreneurial Activities in Hungary (percentages and means) Small B