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Entrepreneurial Activities, Aspirations and Attitudes
GEM 2011 outcomes point to the conclusion that Slovakia has a high entrepreneurial
potential as well as individuals’ entrepreneurial activity in the international comparison. It is
high in the early stage entrepreneurial activity as well as in the established businesses.
Entrepreneurship activities are realized through low ambitious type of
entrepreneurship (from the innovation point of view or reaching the international markets),
but the entrepreneurs have high growth expectations in the number of job creation.
In the frame of entrepreneurship profile, the women ratio in total early stage
entrepreneurial activity is low as was stressed in GEM 2011 International Report. Similarly
low is the participation of the age category 55 - 64 at early stage entrepreneurial activity. On
the other hand, the ratio of young people entrepreneurial activity is comparable with
benchmarks.
Following are key findings for Slovakia presented in the order of phases of the
entrepreneurship process, as is defined in the GEM conceptual model. The findings are
concluded from analyzes deeply described in the chapters of the publication.
Potential of Entrepreneurship and Entrepreneurial Intentions
In the international comparison with countries, which participated in GEM in 2011,
Slovakia shows high entrepreneurial potential. It is demonstrated by high self-
confidence of individuals as well as by their low fear of failure, once they start their
own businesses. Unfortunately, social attitudes towards entrepreneurship and low
business opportunity perception in Slovakia have a negative impact on the high
entrepreneurial potential.
In Slovakia, 18% of the adult (age 18 - 64) population intent to start their own
business in the next three years. Ranking of Slovakia in the international comparison
of entrepreneurial intention suggests a risk of potential decrease in entrepreneurial
activity in next three years.
Entrepreneurial Activity of Slovaks
Slovakia has the highest total early-stage entrepreneurial activity - TEA within the V4
countries and is ranked 15
th
in global comparison (54 countries). TEA is a percentage
of people in 18 - 64 age population category, who are nascent entrepreneurs or owners
- managers of new businesses. Slovakia’s TEA is 14.2%, which represents 525,000